Sendero Wealth Management LLC Reduces Holdings in Warner Bros. Discovery, Inc. $WBD

Sendero Wealth Management LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 456,745 shares of the company’s stock after selling 30,369 shares during the period. Warner Bros. Discovery makes up about 1.0% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Sendero Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $8,920,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WBD. Brighton Jones LLC raised its position in Warner Bros. Discovery by 304.9% in the 4th 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. HighTower Advisors LLC grew its stake in shares of Warner Bros. Discovery by 16.2% during the first quarter. HighTower Advisors LLC now owns 268,675 shares of the company’s stock valued at $2,883,000 after buying an additional 37,481 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Warner Bros. Discovery by 63.7% in the first quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company’s stock worth $137,700,000 after buying an additional 4,994,894 shares during the period. American Century Companies Inc. raised its holdings in shares of Warner Bros. Discovery by 19.8% in the first quarter. American Century Companies Inc. now owns 2,153,859 shares of the company’s stock worth $23,111,000 after buying an additional 356,523 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of Warner Bros. Discovery by 5.1% during the 1st quarter. Raymond James Financial Inc. now owns 2,041,662 shares of the company’s stock worth $21,907,000 after acquiring an additional 98,296 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 4,122 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total transaction of $119,208.24. Following the sale, the chief accounting officer owned 100,962 shares of the company’s stock, valued at approximately $2,919,821.04. This trade represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the sale, the chief financial officer owned 918,940 shares of the company’s stock, valued at $27,108,730. This trade represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 489,326 shares of company stock valued at $12,781,456. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on WBD. Rothschild & Co Redburn raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Thursday, October 30th. Singular Research upgraded shares of Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Argus set a $28.00 price target on shares of Warner Bros. Discovery in a research note on Monday, December 8th. Morgan Stanley boosted their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Finally, Rothschild Redb raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.58.

Warner Bros. Discovery Stock Down 2.4%

NASDAQ:WBD opened at $28.21 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $30.00. The company has a 50-day moving average of $22.97 and a 200 day moving average of $16.61. The firm has a market cap of $69.90 billion, a PE ratio of 148.48 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The business had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the prior year, the firm posted $0.05 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.