Key Points
- CFO Gunnar Wiedenfels sold 242,994 shares on Dec. 10 at an average price of $29.50 for proceeds of $7.17M, reducing his direct stake to 918,940 shares — a 20.91% drop in his ownership.
- This sale continues a recent insider-selling pattern — combined with prior sales on Oct. 31 and Sept. 15, Wiedenfels has sold > 995,000 shares for roughly $22.5M year-to-date.
- For context, WBD shares opened around $30 (52-week high ~$30) while the Street’s consensus price target is $22.58 and the company has a market cap of about $74.3B.
Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares of the company's stock, valued at approximately $27,108,730. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Gunnar Wiedenfels also recently made the following trade(s):
- On Friday, October 31st, Gunnar Wiedenfels sold 222,210 shares of Warner Bros. Discovery stock. The shares were sold at an average price of $22.50, for a total value of $4,999,725.00.
- On Monday, September 15th, Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50.
Warner Bros. Discovery Price Performance
NASDAQ WBD opened at $29.98 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $74.29 billion, a price-to-earnings ratio of 157.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. The company has a 50 day simple moving average of $22.35 and a 200-day simple moving average of $16.17. Warner Bros. Discovery, Inc. has a 52-week low of $7.52 and a 52-week high of $30.00.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). The company had revenue of $9.05 billion for the quarter, compared to analysts' expectations of $9.17 billion. Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The business's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. 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. raised its position in shares of Warner Bros. Discovery by 152.1% in 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 period. Grove Bank & Trust lifted its stake 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 worth $33,000 after buying an additional 675 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth $33,000. Finally, Crews Bank & Trust boosted its holdings in shares of Warner Bros. Discovery by 1,242.2% during the 3rd quarter. Crews Bank & Trust now owns 1,718 shares of the company's stock worth $34,000 after buying an additional 1,590 shares during the period. 59.95% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on WBD. Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, October 8th. Bank of America boosted their target price on Warner Bros. Discovery from $16.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Morgan Stanley raised their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 25th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Finally, TD Cowen increased their price objective on Warner Bros. Discovery from $14.00 to $22.00 in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus price target of $22.58.
Get Our Latest Stock Analysis on WBD
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.
Further Reading
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