Lori Locke Sells 4,122 Shares of Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CAO Lori Locke sold 4,122 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the sale, the chief accounting officer directly owned 100,962 shares of the company’s stock, valued at approximately $2,919,821.04. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Warner Bros. Discovery Trading Up 4.5%

Shares of Warner Bros. Discovery stock traded up $1.27 during trading hours on Wednesday, reaching $29.53. The stock had a trading volume of 103,484,907 shares, compared to its average volume of 49,478,387. The firm has a market capitalization of $73.17 billion, a price-to-earnings ratio of 155.43, a P/E/G ratio of 1.04 and a beta of 1.60. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $29.81. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. The firm has a 50 day simple moving average of $21.72 and a two-hundred day simple moving average of $15.83.

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

Analyst Ratings Changes

A number of research analysts have commented on WBD shares. Redburn Partners set a $28.00 price objective on Warner Bros. Discovery in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of Warner Bros. Discovery in a report on Monday. Raymond James Financial raised their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Sanford C. Bernstein lifted their price target on shares of Warner Bros. Discovery from $16.00 to $23.50 in a research note on Friday, November 7th. Finally, Rothschild & Co Redburn upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus price target of $22.35.

Institutional Trading of Warner Bros. Discovery

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at about $306,848,000. Pacer Advisors Inc. boosted its stake in Warner Bros. Discovery by 4,639.8% in the third quarter. Pacer Advisors Inc. now owns 22,788,847 shares of the company’s stock valued at $445,066,000 after acquiring an additional 22,308,046 shares during the period. Vanguard Group Inc. grew its holdings in shares of Warner Bros. Discovery by 7.1% during the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock valued at $5,492,112,000 after purchasing an additional 18,736,600 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position in shares of Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock worth $685,413,000 after purchasing an additional 18,291,865 shares during the period. Finally, Independent Franchise Partners LLP bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $140,224,000. 59.95% of the stock is owned by institutional investors and hedge funds.

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.