Warner Bros. Discovery, Inc. $WBD Shares Sold by Amundi

Key Points

• Amundi reduced its stake in Warner Bros. Discovery, Inc. by 8.3%, selling 840,246 shares and now holding 9,310,868 shares worth approximately $99.9 million.
• The company reported $0.63 EPS for the last quarter, exceeding analyst estimates by $0.79 with total revenues of $9.81 billion, up 1.0% year-over-year.
• A director purchased 75,000 shares at $11.00 each, increasing their stake in the company by 8.58% to a total of 949,000 shares.

Amundi decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,310,868 shares of the company's stock after selling 840,246 shares during the period. Amundi owned about 0.38% of Warner Bros. Discovery worth $99,906,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WBD. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery during the 1st quarter worth approximately $27,000. North Capital Inc. purchased a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $29,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $30,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WBD has been the subject of several research analyst reports. Barrington Research reiterated an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Bank of America increased their price target on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Benchmark reissued a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Monday, July 14th. Wells Fargo & Company lifted their price target on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.14.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.20 during trading on Wednesday, reaching $12.46. The company had a trading volume of 48,056,798 shares, compared to its average volume of 47,221,434. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a twelve month low of $6.78 and a twelve month high of $13.86. The stock has a 50-day moving average price of $12.12 and a two-hundred day moving average price of $10.55. The stock has a market capitalization of $30.84 billion, a PE ratio of 41.52, a price-to-earnings-growth ratio of 1.65 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.79. The firm had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted ($4.07) EPS. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Anton J. Levy acquired 250,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director owned 874,000 shares of the company's stock, valued at approximately $9,526,600. This represents a 40.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

About Warner Bros. Discovery

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.