Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,151 shares of the company’s stock after selling 12,682 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Warner Bros. Discovery were worth $526,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in Warner Bros. Discovery in the second quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at about $41,000. Larson Financial Group LLC boosted its position in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the period. Quarry LP boosted its position in shares of Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after purchasing an additional 6,031 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $51,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Trading Down 1.3 %

NASDAQ:WBD opened at $10.49 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average price of $9.38 and a two-hundred day moving average price of $8.32. The stock has a market capitalization of $25.73 billion, a price-to-earnings ratio of -2.29 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WBD has been the subject of a number of research reports. Rosenblatt Securities boosted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Bank of America restated a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Twelve 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 $11.44.

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.