Lori Locke Sells 5,000 Shares of Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CAO Lori Locke sold 5,000 shares of the 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 transaction, the chief accounting officer directly 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 filing with the SEC, which is available through this hyperlink.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $26.08 on Friday. The company has a market cap of $64.63 billion, a P/E ratio of 137.27, a P/E/G ratio of 1.00 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. The stock has a 50-day moving average of $21.38 and a two-hundred day moving average of $15.52. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $26.10.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

WBD has been the subject of several research reports. Singular Research upgraded shares of Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group boosted their target price on Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a “buy” rating in a research note on Friday, November 7th. Bank of America upped their price target on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Cowen cut Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Wells Fargo & Company upped their target price on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus target price of $21.92.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WPG Advisers LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter worth approximately $26,000. Concord Wealth Partners raised its stake in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in 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 acquiring an additional 847 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in Warner Bros. Discovery in the second quarter valued at $29,000. Finally, Grove Bank & Trust boosted its stake in 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 acquiring an additional 675 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Company Profile

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.