Warner Bros. Discovery, Inc. (NASDAQ:WBD) Insider Savalle Sims Sells 169,436 Shares of Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) insider Savalle Sims sold 169,436 shares of the 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 owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Warner Bros. Discovery Trading Down 2.2 %

Warner Bros. Discovery stock opened at $11.35 on Wednesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $27.84 billion, a price-to-earnings ratio of -2.48 and a beta of 1.52. The company has a 50 day moving average price of $9.19 and a 200 day moving average price of $8.27.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business 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 was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) earnings per share. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors and hedge funds have recently bought and sold shares of WBD. State Street Corp lifted its position in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. increased its stake in Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. lifted its position in Warner Bros. Discovery by 2.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after buying an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Warner Bros. Discovery by 1.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after buying an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Warner Bros. Discovery by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after acquiring an additional 687,612 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WBD. Barclays upped their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Rosenblatt Securities lifted their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Macquarie upped their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $11.33.

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.