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

Beck Mack & Oliver LLC lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,243,179 shares of the company’s stock after selling 104,100 shares during the period. Beck Mack & Oliver LLC owned 0.09% of Warner Bros. Discovery worth $25,707,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery in the first quarter valued at approximately $26,000. Financial Gravity Companies Inc. purchased a new position in Warner Bros. Discovery in the 2nd quarter valued at $29,000. Trifecta Capital Advisors LLC acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at $34,000. Elevation Point Wealth Partners LLC purchased a new position in Warner Bros. Discovery during the 2nd quarter worth $44,000. Finally, ST Germain D J Co. Inc. lifted its stake in shares of Warner Bros. Discovery by 4,720.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 4,001 shares of the company’s stock worth $46,000 after acquiring an additional 3,918 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $29.98 on Friday. The stock has a fifty day moving average price of $22.35 and a 200 day moving average price of $16.17. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $74.29 billion, a PE ratio of 157.80, a P/E/G ratio of 1.06 and a beta of 1.60. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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 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 quarter in the prior year, the business earned $0.05 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $27.62, for a total value of $138,100.00. Following the sale, the chief accounting officer directly owned 110,084 shares in the company, valued at $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the transaction, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 currently owned by company insiders.

Wall Street Analyst Weigh In

WBD has been the topic of a number of recent analyst reports. Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, October 8th. Guggenheim boosted their target price on Warner Bros. Discovery from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Cowen cut Warner Bros. Discovery from a “buy” rating to a “hold” rating in a report on Tuesday, September 16th. Bank of America upped their price objective on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average price target of $22.58.

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.