Key Points
- CAO Lori Locke sold 5,000 WBD shares on Dec. 4 at an average price of $24.14 for about $120,700, trimming her position to 120,084 shares (a 4.0% decrease) in a transaction disclosed to the SEC.
- Warner Bros. Discovery recently missed quarterly estimates (EPS ($0.06) vs. ($0.04) expected; revenue $9.05B vs. $9.17B expected), yet shares were up ~6.3% and trading near a 52‑week high, while analysts' consensus is a Moderate Buy with a $21.92 target.
Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) CAO Lori Locke sold 5,000 shares of the business's stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $24.14, for a total value of $120,700.00. Following the sale, the chief accounting officer owned 120,084 shares in the company, valued at approximately $2,898,827.76. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Warner Bros. Discovery Stock Up 6.3%
Shares of NASDAQ:WBD opened at $26.08 on Friday. The firm has a 50 day simple moving average of $21.38 and a 200 day simple moving average of $15.48. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $26.10. 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 company has a market cap of $64.63 billion, a PE ratio of 137.27, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) 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 business had revenue of $9.05 billion during the quarter, compared to analysts' expectations of $9.17 billion. During the same quarter in the previous year, the company earned $0.05 EPS. Warner Bros. Discovery's revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.
Institutional Trading of Warner Bros. Discovery
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $26,000. Concord Wealth Partners boosted its position in Warner Bros. Discovery by 49.9% during the third quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock worth $26,000 after purchasing an additional 440 shares during the period. Physician Wealth Advisors Inc. grew its holdings in Warner Bros. Discovery by 152.1% during the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock valued at $27,000 after purchasing an additional 847 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in Warner Bros. Discovery during the second quarter valued at approximately $29,000. Finally, Grove Bank & Trust raised its position in shares of Warner Bros. Discovery by 66.5% in the third 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. Institutional investors and hedge funds own 59.95% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, November 7th. Barclays set a $20.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Warner Bros. Discovery in a research report on Monday. Finally, UBS Group lifted their price target on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a "neutral" rating in a report on Monday, October 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.92.
Check Out Our Latest Stock Report 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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