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 Warner Bros. Discovery stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the sale, the chief accounting officer directly owned 120,084 shares of the company’s stock, valued at approximately $2,898,827.76. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Warner Bros. Discovery Stock Up 6.3%

Shares of WBD stock traded up $1.54 on Friday, reaching $26.08. 198,621,391 shares of the company were exchanged, compared to its average volume of 48,490,438. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average of $21.25 and a 200-day moving average of $15.36. The company has a market cap of $64.63 billion, a price-to-earnings ratio of 137.27, a PEG ratio of 1.00 and a beta of 1.60. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $26.10.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results 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 firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same period last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WBD shares. Guggenheim lifted their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Cowen cut shares of 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 research report on Friday, September 12th. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a research report on Wednesday, October 22nd. Finally, Redburn Partners set a $28.00 price target on Warner Bros. Discovery in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.92.

Hedge Funds Weigh In On Warner Bros. Discovery

Several hedge funds have recently modified their holdings of WBD. Concord Wealth Partners increased its position in shares of Warner Bros. Discovery by 49.9% during the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after acquiring an additional 440 shares during the last quarter. Physician Wealth Advisors Inc. boosted its position in Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares during the last quarter. Grove Bank & Trust grew its stake in Warner Bros. Discovery by 66.5% in the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after purchasing an additional 675 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at $33,000. Finally, Crews Bank & Trust raised its stake in shares of Warner Bros. Discovery by 1,242.2% during the 3rd quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock worth $34,000 after purchasing an additional 1,590 shares during the period. 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.