Capital Investment Advisors LLC Has $418,000 Position in Warner Bros. Discovery, Inc. $WBD

Capital Investment Advisors LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.2% during the second quarter, Holdings Channel reports. The fund owned 36,475 shares of the company’s stock after selling 1,997 shares during the quarter. Capital Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in WBD. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $27,000. North Capital Inc. acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock worth $31,000 after acquiring an additional 2,352 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on WBD. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday. Moffett Nathanson boosted their price target on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Guggenheim restated a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Finally, Huber Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.14.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $19.24 on Friday. The stock has a fifty day moving average price of $14.34 and a 200-day moving average price of $11.48. The company has a market cap of $47.63 billion, a price-to-earnings ratio of 64.14, a PEG ratio of 2.47 and a beta of 1.73. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $20.24.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. The firm 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 company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($4.07) EPS. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Bruce Campbell sold 150,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares of the company’s stock, valued at $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares in the company, valued at $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 970,115 shares of company stock worth $17,818,490 in the last ninety days. 1.90% of the stock is owned by insiders.

About Warner Bros. Discovery

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.