Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) Director Anton Levy sold 340,000 shares of Warner Bros. Discovery stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $28.39, for a total value of $9,652,600.00. Following the sale, the director owned 618,067 shares of the company's stock, valued at approximately $17,546,922.13. This represents a 35.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Warner Bros. Discovery Trading Down 0.5%
NASDAQ:WBD opened at $28.12 on Wednesday. The stock's 50 day moving average price is $27.14 and its 200 day moving average price is $27.25. Warner Bros. Discovery, Inc. has a 52 week low of $12.00 and a 52 week high of $30.00. The company has a market capitalization of $70.60 billion, a P/E ratio of -22.14 and a beta of 1.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.20. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $9.25 billion. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The company's revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -1.11 EPS for the current fiscal year.
Institutional Investors Weigh In On Warner Bros. Discovery
A number of hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Warner Bros. Discovery by 2,593.6% in the second quarter. California State Teachers Retirement System now owns 96,581,582 shares of the company's stock worth $2,574,865,000 after purchasing an additional 92,996,028 shares during the period. Geode Capital Management LLC grew its holdings in Warner Bros. Discovery by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company's stock valued at $1,912,634,000 after buying an additional 1,028,346 shares during the last quarter. Norges Bank acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at approximately $1,123,807,000. Morgan Stanley increased its position in Warner Bros. Discovery by 4.8% in the 4th quarter. Morgan Stanley now owns 27,462,742 shares of the company's stock worth $791,476,000 after buying an additional 1,254,813 shares during the period. Finally, Northern Trust Corp increased its position in Warner Bros. Discovery by 3.9% in the 3rd quarter. Northern Trust Corp now owns 23,496,725 shares of the company's stock worth $458,891,000 after buying an additional 876,869 shares during the period. 59.95% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
WBD has been the subject of several analyst reports. Freedom Capital raised shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Zacks Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Huber Research upgraded Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a report on Monday, June 1st. Weiss Ratings raised Warner Bros. Discovery from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 18th. Finally, Seaport Research Partners downgraded Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of "Hold" and a consensus price target of $27.69.
View Our Latest Stock Analysis on Warner Bros. Discovery
About Warner Bros. Discovery
(
Get Free Report)
Warner Bros. Discovery, Inc is a global media and entertainment company that develops, produces and distributes television, film and digital content. Its portfolio includes Warner Bros. film and television studios, HBO, CNN, Discovery, TLC, HGTV, Food Network, TNT Sports and other well-known brands.
The company operates streaming services including Max, which features HBO programming, Warner Bros. films, original series and other entertainment content, and discovery+, which focuses on lifestyle, documentary and nonfiction programming.
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