Key Points
- CAO Lori Locke sold 4,122 shares of Warner Bros. Discovery on Dec. 10 at an average price of $28.92 for proceeds of $119,208, leaving her with 100,962 shares (a 3.92% reduction) as disclosed in an SEC filing.
- Warner Bros. Discovery reported a quarter with an EPS miss (‑$0.06 vs. ‑$0.04 expected) and revenue of $9.05 billion (vs. $9.17 billion expected), while the stock trades near its 52‑week high ($29.64 open vs. $29.81 high) and the company has a market cap of about $73.4 billion.
- Institutional interest remains high—Vanguard and other large funds increased positions—and analysts show a mixed but generally positive view with a consensus rating of "Moderate Buy" and a consensus target price of $22.58.
Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) CAO Lori Locke sold 4,122 shares of the firm's stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total value of $119,208.24. Following the transaction, the chief accounting officer owned 100,962 shares in the company, valued at approximately $2,919,821.04. This trade represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Warner Bros. Discovery Stock Up 0.4%
Warner Bros. Discovery stock opened at $29.64 on Thursday. The company's 50 day simple moving average is $21.92 and its 200 day simple moving average is $15.93. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $29.81. The firm has a market capitalization of $73.44 billion, a price-to-earnings ratio of 155.92, a PEG ratio of 1.08 and a beta of 1.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.
Hedge Funds Weigh In On Warner Bros. Discovery
A number of large investors have recently bought and sold shares of WBD. Vanguard Group Inc. raised its holdings in shares of Warner Bros. Discovery by 7.1% in the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company's stock valued at $5,492,112,000 after purchasing an additional 18,736,600 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Warner Bros. Discovery by 0.9% during the second quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company's stock worth $685,798,000 after purchasing an additional 551,548 shares during the last quarter. Invesco Ltd. grew its position in Warner Bros. Discovery by 2.8% in the second quarter. Invesco Ltd. now owns 44,574,492 shares of the company's stock valued at $510,824,000 after purchasing an additional 1,233,195 shares in the last quarter. Jericho Capital Asset Management L.P. grew its position in Warner Bros. Discovery by 108.9% in the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company's stock valued at $685,413,000 after purchasing an additional 18,291,865 shares in the last quarter. Finally, Sessa Capital IM L.P. increased its stake in Warner Bros. Discovery by 4.0% in the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company's stock valued at $317,128,000 after buying an additional 1,144,849 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on WBD shares. Bank of America lifted their target price on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Singular Research raised Warner Bros. Discovery to a "moderate buy" rating in a research report on Wednesday, October 22nd. Arete Research boosted their price objective on Warner Bros. Discovery from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday. TD Cowen increased their target price on Warner Bros. Discovery from $14.00 to $22.00 in a research note on Friday, November 7th. Finally, Seaport Global Securities raised their target price on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.
View 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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