Warner Bros. Discovery, Inc. (NASDAQ:WBD) Insider Sells $2,094,228.96 in Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Warner Bros. Discovery Stock Down 6.3 %

NASDAQ:WBD opened at $10.63 on Thursday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock’s fifty day moving average is $9.26 and its two-hundred day moving average is $8.29. The stock has a market capitalization of $26.08 billion, a price-to-earnings ratio of -2.32 and a beta of 1.52. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its stake in Warner Bros. Discovery by 111.0% during the 3rd quarter. Franklin Resources Inc. now owns 375,462 shares of the company’s stock worth $2,831,000 after purchasing an additional 197,528 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Warner Bros. Discovery by 17.3% during the 3rd quarter. Synovus Financial Corp now owns 69,192 shares of the company’s stock worth $571,000 after buying an additional 10,199 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Warner Bros. Discovery by 89.5% in the 3rd quarter. Tidal Investments LLC now owns 142,649 shares of the company’s stock valued at $1,177,000 after buying an additional 67,355 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $1,545,000. Finally, Coldstream Capital Management Inc. lifted its position in Warner Bros. Discovery by 18.9% in the third 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 during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WBD has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Guggenheim lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays upped 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 report on Friday, November 8th. KeyCorp raised their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.33.

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.