Warner Bros. Discovery, Inc. $WBD Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,000 shares of the company’s stock after selling 1,496 shares during the quarter. Bristlecone Advisors LLC’s holdings in Warner Bros. Discovery were worth $149,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WBD. Brighton Jones LLC lifted its holdings in shares of Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after purchasing an additional 51,920 shares during the period. GAMMA Investing LLC lifted its holdings in Warner Bros. Discovery by 16.1% in the first quarter. GAMMA Investing LLC now owns 45,942 shares of the company’s stock valued at $493,000 after acquiring an additional 6,354 shares during the period. Golden State Wealth Management LLC lifted its holdings in Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after acquiring an additional 2,352 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Warner Bros. Discovery by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company’s stock valued at $676,000 after acquiring an additional 1,588 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Warner Bros. Discovery by 0.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,152,673 shares of the company’s stock valued at $55,288,000 after acquiring an additional 44,442 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Argus set a $27.00 target price on Warner Bros. Discovery in a report on Tuesday. Moffett Nathanson raised their target price on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Warner Bros. Discovery from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Benchmark raised their target price on Warner Bros. Discovery from $18.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.14.

Insider Buying and Selling

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares in the company, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anton J. Levy acquired 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $11.00 per share, with a total value of $825,000.00. Following the transaction, the director owned 949,000 shares in the company, valued at $10,439,000. This represents a 8.58% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Trading Up 1.7%

NASDAQ:WBD opened at $21.34 on Thursday. The company has a market capitalization of $52.83 billion, a PE ratio of 71.14, a price-to-earnings-growth ratio of 2.52 and a beta of 1.73. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 52-week low of $7.50 and a 52-week high of $21.74. The stock has a fifty day simple moving average of $16.97 and a 200-day simple moving average of $12.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($4.07) EPS. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.