Key Points
- Warner Bros. Discovery CAO Lori Locke sold 29,115 shares at an average price of $28.13, totaling approximately $819,000 and reducing her holdings by 25.09%.
- WBD shares opened at $28.07, near the analyst consensus price target of $27.69; analysts’ overall rating remains “Hold.”
- The proposed Paramount takeover remains subject to legal and regulatory uncertainty, although extended offer deadlines and planned settlement talks could ease near-term pressure.
Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) CAO Lori Locke sold 29,115 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $28.13, for a total value of $819,004.95. Following the sale, the chief accounting officer owned 86,906 shares of the company's stock, valued at $2,444,665.78. This trade represents a 25.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Warner Bros. Discovery Trading Up 0.1%
NASDAQ WBD opened at $28.07 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $27.35 and a 200 day simple moving average of $27.21. Warner Bros. Discovery, Inc. has a 12 month low of $17.08 and a 12 month high of $30.00. The firm has a market capitalization of $70.48 billion, a P/E ratio of -22.10 and a beta of 1.57.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business's revenue for the quarter was down 11.2% compared to the same quarter last year. On average, analysts predict that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current fiscal year.
Key Headlines Impacting Warner Bros. Discovery
Here are the key news stories impacting Warner Bros. Discovery this week:
- Positive Sentiment: Paramount Skydance extended the expiration dates for its tender and exchange offers, giving the transaction more time to clear regulatory and legal hurdles and reducing near-term pressure on the proposed WBD takeover. Paramount Skydance Extends Expiration Dates for Warner Bros. Discovery Tender and Exchange Offers
- Positive Sentiment: The Justice Department backed Paramount’s request that states challenging the deal post a bond to cover costs associated with delays. If approved, the requirement could increase financial pressure on the states and improve Paramount’s negotiating position. US DoJ backs bond demand in Paramount-Warner Bros antitrust fight
- Neutral Sentiment: A federal judge scheduled settlement discussions between Paramount and state attorneys general for October. Negotiations could help resolve the antitrust case, but the outcome and timing remain uncertain. Judge Sets Date For Settlement Talks In Paramount-WBD Antitrust Case
- Neutral Sentiment: Analyst price targets and forecasts provide a mixed view of WBD’s valuation, while potential strategic alternatives are being considered if the Paramount transaction collapses. Such alternatives could include operating independently or pursuing other asset and strategic transactions. Warner Bros. Discovery stock forecast and price target
- Negative Sentiment: Paramount is reportedly preparing plans to leave California amid the antitrust fight, highlighting the deal’s escalating political and legal conflict. A prolonged battle or failed transaction could delay expected merger benefits for WBD shareholders. Paramount Sets California Exit Plans Over Antitrust Battle
- Negative Sentiment: WBD Chief Accounting Officer Lori Locke sold 29,115 shares worth approximately $819,000, reducing her holdings by about 25%. The sale is a modest sentiment negative, although it does not by itself indicate a change in company fundamentals. SEC insider transaction filing
Hedge Funds Weigh In On Warner Bros. Discovery
A number of hedge funds and other institutional investors have recently made changes to their positions in WBD. Geode Capital Management LLC increased its holdings in Warner Bros. Discovery by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company's stock worth $1,912,634,000 after buying an additional 1,028,346 shares during the last quarter. Norges Bank purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $1,123,807,000. HBK Investments L P grew its position in shares of Warner Bros. Discovery by 15.9% during the 2nd quarter. HBK Investments L P now owns 18,965,932 shares of the company's stock valued at $505,632,000 after acquiring an additional 2,604,732 shares during the period. Bank of America Corp DE grew its position in shares of Warner Bros. Discovery by 21.9% during the 1st quarter. Bank of America Corp DE now owns 16,616,949 shares of the company's stock valued at $456,301,000 after acquiring an additional 2,980,900 shares during the period. Finally, Amundi increased its stake in shares of Warner Bros. Discovery by 11.2% during the 2nd quarter. Amundi now owns 16,324,591 shares of the company's stock worth $435,214,000 after purchasing an additional 1,640,916 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. Seaport Research Partners cut shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a report on Monday, July 27th. Freedom Capital upgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Warner Bros. Discovery from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 18th. Zacks Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Finally, Huber Research upgraded Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.69.
View Our Latest Stock Analysis on WBD
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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