Lori Locke Sells 29,115 Shares of Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CAO Lori Locke sold 29,115 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $28.13, for a total value of $819,004.95. Following the completion of the transaction, the chief accounting officer directly owned 86,906 shares in the company, valued at approximately $2,444,665.78. This represents a 25.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Warner Bros. Discovery Trading Down 0.2%

Shares of Warner Bros. Discovery stock opened at $28.03 on Wednesday. The firm has a market cap of $70.37 billion, a PE ratio of -22.07 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 1 year low of $17.08 and a 1 year high of $30.00. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a fifty day moving average price of $27.31 and a 200-day moving average price of $27.22.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.20. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates 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 for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently bought and sold shares of WBD. Bank of America Corp DE increased its position in Warner Bros. Discovery by 21.9% during the 1st quarter. Bank of America Corp DE now owns 16,616,949 shares of the company’s stock valued at $456,301,000 after buying an additional 2,980,900 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Warner Bros. Discovery by 130.8% in the 4th quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock worth $29,069,000 after buying an additional 571,612 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Warner Bros. Discovery by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after purchasing an additional 1,028,346 shares during the last quarter. Empyrean Capital Partners LP boosted its position in Warner Bros. Discovery by 29.1% in the first quarter. Empyrean Capital Partners LP now owns 2,583,000 shares of the company’s stock worth $70,929,000 after purchasing an additional 583,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $1,123,807,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

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

Warner Bros. Discovery Company Profile

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.