Sendero Wealth Management LLC Boosts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sendero Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 372,846 shares of the company’s stock after buying an additional 5,539 shares during the period. Sendero Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $3,941,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after buying an additional 5,898,611 shares during the period. Sessa Capital IM L.P. raised its stake in shares of Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after acquiring an additional 2,780,986 shares in the last quarter. Drexel Morgan & Co. lifted its holdings in shares of Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after purchasing an additional 2,000,000 shares in the last quarter. Finally, Clifford Capital Partners LLC acquired a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $14,760,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 0.6 %

WBD stock opened at $9.79 on Thursday. The firm’s 50-day moving average is $10.36 and its two-hundred day moving average is $8.69. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of -2.14 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned ($0.17) EPS. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Barclays increased their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Macquarie upped their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Raymond James upped their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Bank of America restated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.56.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

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.