Warner Bros. Discovery (NASDAQ:WBD) CAO Lori Locke Sells 5,000 Shares of Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CAO Lori Locke sold 5,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the completion of the sale, the chief accounting officer directly owned 110,084 shares of the company’s stock, valued at $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Warner Bros. Discovery Stock Up 0.4%

Shares of NASDAQ:WBD opened at $29.64 on Thursday. The stock has a market capitalization of $73.44 billion, a P/E ratio of 155.92, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60. The stock’s 50-day moving average price is $21.92 and its 200-day moving average price is $15.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $29.81.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors have recently bought and sold shares of WBD. Concord Wealth Partners lifted its holdings in Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 440 shares during the period. Physician Wealth Advisors Inc. raised its position in shares of Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after acquiring an additional 847 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Warner Bros. Discovery by 66.5% in the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after purchasing an additional 675 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $33,000. Finally, Crews Bank & Trust boosted its position in shares of Warner Bros. Discovery by 1,242.2% during the third quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after purchasing an additional 1,590 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on WBD. Weiss Ratings reissued a “sell (d+)” rating on shares of Warner Bros. Discovery in a research note on Monday. Cowen cut shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Sanford C. Bernstein boosted their price objective on shares of Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. Finally, Wells Fargo & Company raised their target price on Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.58.

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.