Warner Bros. Discovery, Inc. $WBD Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,280 shares of the company’s stock after selling 8,796 shares during the period. Baxter Bros Inc.’s holdings in Warner Bros. Discovery were worth $290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Voya Investment Management LLC boosted its holdings in shares of Warner Bros. Discovery by 34.9% during the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after purchasing an additional 1,820,249 shares during the last quarter. Bfsg LLC raised its position in shares of Warner Bros. Discovery by 11.2% during the 2nd quarter. Bfsg LLC now owns 156,906 shares of the company’s stock valued at $1,798,000 after buying an additional 15,786 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at approximately $4,089,000. Country Club Bank raised its position in shares of Warner Bros. Discovery by 54.3% during the 2nd quarter. Country Club Bank now owns 502,878 shares of the company’s stock valued at $5,683,000 after buying an additional 176,994 shares during the period. Finally, Hi Line Capital Management LLC raised its position in shares of Warner Bros. Discovery by 17.8% during the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company’s stock valued at $6,411,000 after buying an additional 90,462 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the transaction, the insider owned 402,464 shares in the company, valued at approximately $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anton J. Levy acquired 250,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the purchase, the director directly owned 874,000 shares of the company’s stock, valued at $9,526,600. This represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 970,115 shares of company stock worth $17,818,490. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Down 3.8%

Shares of NASDAQ WBD opened at $17.89 on Thursday. The firm has a market cap of $44.29 billion, a price-to-earnings ratio of 59.64, a PEG ratio of 2.18 and a beta of 1.73. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 52-week low of $7.25 and a 52-week high of $20.24. The business’s 50 day moving average is $14.76 and its two-hundred day moving average is $11.69.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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 business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($4.07) earnings per share. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WBD shares. Bank of America lifted their price target on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Raymond James Financial lifted their price target on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Finally, Cowen lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.61.

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.