Warner Bros. Discovery, Inc. $WBD Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 55,690 shares of the company’s stock after selling 7,092 shares during the quarter. Cullen Investment Group LTD.’s holdings in Warner Bros. Discovery were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $29,000. Finally, Ameriflex Group Inc. acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $30,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider owned 252,464 shares of the company’s stock, valued at $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anton J. Levy bought 75,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $11.00 per share, with a total value of $825,000.00. Following the acquisition, the director directly owned 949,000 shares of the company’s stock, valued at approximately $10,439,000. This represents a 8.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WBD. Raymond James Financial decreased their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Wells Fargo & Company boosted their target price on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday. Barclays boosted their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Morgan Stanley boosted their target price on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, UBS Group boosted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.20.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $18.87 on Friday. The firm has a market cap of $46.72 billion, a PE ratio of 62.90, a PEG ratio of 2.15 and a beta of 1.59. The firm has a fifty day moving average of $12.40 and a 200 day moving average of $10.66. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $19.33.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.79. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($4.07) EPS. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.