Creative Planning Sells 87,314 Shares of Warner Bros. Discovery, Inc. $WBD

Creative Planning trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,539 shares of the company’s stock after selling 87,314 shares during the period. Creative Planning’s holdings in Warner Bros. Discovery were worth $4,109,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WBD. Summit Investment Advisors Inc. increased its stake in Warner Bros. Discovery by 0.8% in the 1st quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock worth $1,089,000 after buying an additional 795 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in shares of Warner Bros. Discovery by 0.6% in the second quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock worth $1,546,000 after acquiring an additional 857 shares during the period. Eastern Bank grew its position in shares of Warner Bros. Discovery by 11.6% during the second quarter. Eastern Bank now owns 8,452 shares of the company’s stock worth $97,000 after purchasing an additional 879 shares in the last quarter. Holistic Financial Partners raised its stake in Warner Bros. Discovery by 5.2% during the 2nd quarter. Holistic Financial Partners now owns 18,209 shares of the company’s stock valued at $209,000 after purchasing an additional 898 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Warner Bros. Discovery by 12.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock worth $94,000 after purchasing an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares in the company, valued at approximately $4,544,352. This represents a 37.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gunnar Wiedenfels sold 222,210 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares in the company, valued at $20,676,150. This trade represents a 19.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,192,325 shares of company stock worth $22,818,215. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WBD shares. Wells Fargo & Company increased their price objective on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of Warner Bros. Discovery in a report on Friday, November 14th. Seaport Global Securities lifted their price target on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Sanford C. Bernstein lifted their target price on Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $21.92.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $23.17 on Friday. The firm has a market capitalization of $57.41 billion, a price-to-earnings ratio of 77.24, a PEG ratio of 2.56 and a beta of 1.74. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $20.40 and a 200-day simple moving average of $14.43. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $24.19.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery 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.