Warner Bros. Discovery, Inc. $WBD Shares Sold by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,243,179 shares of the company’s stock after selling 104,100 shares during the period. Beck Mack & Oliver LLC’s holdings in Warner Bros. Discovery were worth $25,707,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at $306,848,000. Independent Franchise Partners LLP purchased a new stake in shares of Warner Bros. Discovery in the first quarter valued at $140,224,000. Sound Shore Management Inc CT purchased a new stake in shares of Warner Bros. Discovery in the second quarter valued at $97,951,000. Maverick Capital Ltd. purchased a new position in Warner Bros. Discovery during the second quarter worth about $77,896,000. Finally, Apollo Management Holdings L.P. acquired a new stake in Warner Bros. Discovery in the 1st quarter worth about $65,031,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WBD shares. Rothschild & Co Redburn raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Thursday, October 30th. Benchmark upped their price target on shares of Warner Bros. Discovery from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. Arete Research lifted their price target on shares of Warner Bros. Discovery from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of Warner Bros. Discovery in a report on Monday. Finally, Moffett Nathanson increased their price target on Warner Bros. Discovery from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.58.

Warner Bros. Discovery Price Performance

WBD opened at $29.98 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $30.00. The firm has a market cap of $74.29 billion, a price-to-earnings ratio of 157.80, a PEG ratio of 1.06 and a beta of 1.60. 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 company has a fifty day simple moving average of $22.35 and a 200 day simple moving average of $16.17.

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 net margin of 1.28% and a return on equity of 1.34%. The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same period in the previous year, the company earned $0.05 earnings per share. The business’s quarterly revenue was down 6.0% on a year-over-year basis. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Lori C. 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 completion of the sale, the chief accounting officer 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the sale, the chief financial officer owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,020,119 shares of company stock valued at $23,131,920. 1.90% of the stock is owned by insiders.

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.