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

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CAO Lori Locke sold 5,000 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $23.83, for a total transaction of $119,150.00. Following the completion of the transaction, the chief accounting officer directly owned 140,084 shares of the company’s stock, valued at approximately $3,338,201.72. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Warner Bros. Discovery Stock Up 0.5%

Warner Bros. Discovery stock traded up $0.11 during trading hours on Friday, hitting $23.99. 19,982,932 shares of the stock traded hands, compared to its average volume of 48,057,453. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $24.20. The firm’s 50-day moving average price is $20.78 and its two-hundred day moving average price is $14.83. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market cap of $59.45 billion, a PE ratio of 79.97, a PEG ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last announced its 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). Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue was down 6.0% on a year-over-year basis. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WBD. Raymond James Financial lifted their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Barclays set a $20.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, October 8th. Argus set a $27.00 price objective on Warner Bros. Discovery in a research report on Tuesday, October 28th. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Sanford C. Bernstein boosted their price objective on shares of Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.92.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 7.1% in the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock worth $5,492,112,000 after buying an additional 18,736,600 shares during the last quarter. Geode Capital Management LLC raised its position in Warner Bros. Discovery by 0.9% in the second quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company’s stock worth $685,798,000 after acquiring an additional 551,548 shares during the period. Invesco Ltd. boosted its stake in shares of Warner Bros. Discovery by 2.8% during the 2nd quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock worth $510,824,000 after acquiring an additional 1,233,195 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its stake 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 acquiring an additional 18,291,865 shares during the last quarter. Finally, Sessa Capital IM L.P. grew its position in shares of Warner Bros. Discovery by 4.0% during the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock valued at $317,128,000 after acquiring an additional 1,144,849 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.