Inlight Wealth Management LLC Trims Holdings in Warner Bros. Discovery, Inc. $WBD

Inlight Wealth Management LLC lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 56.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,674 shares of the company’s stock after selling 16,441 shares during the period. Inlight Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $145,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Parkside Investments LLC increased its position in shares of Warner Bros. Discovery by 0.3% in the 2nd quarter. Parkside Investments LLC now owns 346,654 shares of the company’s stock worth $3,973,000 after purchasing an additional 1,000 shares during the last quarter. Avior Wealth Management LLC grew its stake in Warner Bros. Discovery by 8.8% in the second quarter. Avior Wealth Management LLC now owns 14,545 shares of the company’s stock worth $167,000 after purchasing an additional 1,176 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Warner Bros. Discovery by 9.7% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,704 shares of the company’s stock valued at $157,000 after buying an additional 1,213 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Warner Bros. Discovery by 10.9% in the second quarter. Farther Finance Advisors LLC now owns 13,148 shares of the company’s stock valued at $151,000 after buying an additional 1,295 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in Warner Bros. Discovery by 9.7% during the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company’s stock valued at $160,000 after buying an additional 1,318 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Insider Activity at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery 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 sale, the insider directly owned 252,464 shares in the company, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at $22,252,425. The trade was a 31.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 970,115 shares of company stock worth $17,818,490 in the last three months. 1.90% of the stock is owned by company insiders.

Warner Bros. Discovery Stock Performance

WBD stock opened at $18.99 on Monday. Warner Bros. Discovery, Inc. has a 1 year low of $7.25 and a 1 year high of $20.24. The stock has a market capitalization of $47.01 billion, a price-to-earnings ratio of 63.30, a PEG ratio of 2.35 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. The stock’s fifty day moving average is $14.45 and its two-hundred day moving average is $11.54.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period last year, the firm posted ($4.07) EPS. Warner Bros. Discovery’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

WBD has been the subject of several research reports. Moffett Nathanson lifted their target price on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Wells Fargo & Company raised their price objective on Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Sanford C. Bernstein boosted their target price on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, September 22nd. UBS Group increased their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Finally, Barclays raised their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.14.

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.