Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) insider Savalle Sims sold 169,436 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company's stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Warner Bros. Discovery Price Performance
NASDAQ:WBD opened at $11.35 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $27.84 billion, a P/E ratio of -2.48 and a beta of 1.52. The company has a fifty day moving average price of $9.19 and a 200 day moving average price of $8.27. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.
Institutional Investors Weigh In On Warner Bros. Discovery
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Several institutional investors and hedge funds have recently bought and sold shares of WBD. Franklin Resources Inc. boosted its position in Warner Bros. Discovery by 111.0% in the third quarter. Franklin Resources Inc. now owns 375,462 shares of the company's stock valued at $2,831,000 after buying an additional 197,528 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Warner Bros. Discovery by 17.3% in the third quarter. Synovus Financial Corp now owns 69,192 shares of the company's stock valued at $571,000 after buying an additional 10,199 shares during the last quarter. Tidal Investments LLC lifted its position in Warner Bros. Discovery by 89.5% during the 3rd quarter. Tidal Investments LLC now owns 142,649 shares of the company's stock worth $1,177,000 after buying an additional 67,355 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Warner Bros. Discovery during the 3rd quarter worth about $1,545,000. Finally, Coldstream Capital Management Inc. increased its position in Warner Bros. Discovery by 18.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 26,307 shares of the company's stock valued at $219,000 after acquiring an additional 4,176 shares in the last quarter. Institutional investors own 59.95% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Barclays boosted their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Raymond James increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Benchmark restated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Rosenblatt Securities upped their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Finally, Bank of America reissued a "buy" rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $11.33.
Check Out Our Latest Analysis on Warner Bros. Discovery
Warner Bros. Discovery Company Profile
(
Get Free Report)
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.
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