Insider Selling: Warner Bros. Discovery (NASDAQ:WBD) CAO Sells $119,208.24 in Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CAO Lori Locke sold 4,122 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total transaction of $119,208.24. Following the transaction, the chief accounting officer owned 100,962 shares in the company, valued at $2,919,821.04. This represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Warner Bros. Discovery Stock Performance

WBD opened at $29.98 on Friday. The business has a 50 day moving average price of $22.35 and a two-hundred day moving average price of $16.17. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $74.29 billion, a price-to-earnings ratio of 157.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBD. Swiss Life Asset Management Ltd raised its stake in Warner Bros. Discovery by 7.3% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 239,650 shares of the company’s stock valued at $4,680,000 after purchasing an additional 16,364 shares during the period. Cambria Investment Management L.P. grew its holdings in shares of Warner Bros. Discovery by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 51,424 shares of the company’s stock valued at $1,004,000 after buying an additional 10,278 shares in the last quarter. Burkett Financial Services LLC raised its position in Warner Bros. Discovery by 15.1% during the third quarter. Burkett Financial Services LLC now owns 15,708 shares of the company’s stock valued at $307,000 after buying an additional 2,057 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Warner Bros. Discovery during the third quarter valued at $26,384,000. Finally, Centaurus Financial Inc. lifted its stake in Warner Bros. Discovery by 149.0% in the 3rd quarter. Centaurus Financial Inc. now owns 24,205 shares of the company’s stock worth $473,000 after acquiring an additional 14,486 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the topic of several research reports. Redburn Partners set a $28.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, October 30th. The Goldman Sachs Group increased their target price on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a research note on Friday, November 7th. Rothschild Redb upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Warner Bros. Discovery in a report on Monday. Finally, Raymond James Financial increased their price objective on Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.58.

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.