Warner Bros. Discovery (NASDAQ:WBD) Insider Amy Girdwood Sells 262,285 Shares of Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) insider Amy Girdwood sold 262,285 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $27.98, for a total transaction of $7,338,734.30. Following the completion of the sale, the insider directly owned 539,374 shares in the company, valued at approximately $15,091,684.52. This represents a 32.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Warner Bros. Discovery Price Performance

WBD stock opened at $28.20 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $12.56 and a 12 month high of $30.00. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $27.20 and a 200 day moving average price of $27.24. The stock has a market cap of $70.80 billion, a PE ratio of -22.20 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.20. The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $9.25 billion. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The firm’s revenue was down 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WBD. Freedom Capital raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings upgraded Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Seaport Research Partners cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $27.69.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WBD. California State Teachers Retirement System lifted its holdings in Warner Bros. Discovery by 2,593.6% during the second quarter. California State Teachers Retirement System now owns 96,581,582 shares of the company’s stock worth $2,574,865,000 after buying an additional 92,996,028 shares during the period. Norges Bank purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at $1,123,807,000. Bank of New York Mellon Corp purchased a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at $338,263,000. Hsbc Holdings PLC raised its position in shares of Warner Bros. Discovery by 131.3% in the 2nd quarter. Hsbc Holdings PLC now owns 13,829,848 shares of the company’s stock worth $369,800,000 after acquiring an additional 7,851,800 shares in the last quarter. Finally, Duquesne Family Office LLC bought a new position in shares of Warner Bros. Discovery in the 2nd quarter worth $74,916,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc is a global media and entertainment company that develops, produces and distributes television, film and digital content. Its portfolio includes Warner Bros. film and television studios, HBO, CNN, Discovery, TLC, HGTV, Food Network, TNT Sports and other well-known brands.

The company operates streaming services including Max, which features HBO programming, Warner Bros. films, original series and other entertainment content, and discovery+, which focuses on lifestyle, documentary and nonfiction programming.