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

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CAO Lori Locke sold 5,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were 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 owned 110,084 shares of the company’s stock, valued at approximately $3,040,520.08. This trade represents a 4.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded up $1.27 during trading on Wednesday, reaching $29.53. The company’s stock had a trading volume of 103,406,787 shares, compared to its average volume of 49,478,223. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $29.81. The firm has a market cap 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. The business’s fifty day moving average price is $21.72 and its 200-day moving average price is $15.83. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07.

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

Institutional Trading of Warner Bros. Discovery

Hedge funds have recently bought and sold shares of the company. Swiss Life Asset Management Ltd grew its position in shares of Warner Bros. Discovery by 7.3% in the third 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 Warner Bros. Discovery by 25.0% in the 3rd 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 during the period. Burkett Financial Services LLC increased its stake in shares of Warner Bros. Discovery by 15.1% during the 3rd quarter. Burkett Financial Services LLC now owns 15,708 shares of the company’s stock valued at $307,000 after acquiring an additional 2,057 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $26,384,000. Finally, Centaurus Financial Inc. lifted its holdings in shares of Warner Bros. Discovery by 149.0% during 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 during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of recent analyst reports. Bank of America raised their target price on Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Seaport Global Securities upped their price target on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Cowen cut Warner Bros. Discovery from a “buy” rating to a “hold” rating in a report on Tuesday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $29.50 price target on shares of Warner Bros. Discovery in a research report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.35.

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.