Warner Bros. Discovery, Inc. $WBD Shares Sold by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise cut its Warner Bros. Discovery stake by 62.9% in the fourth quarter, selling 61,548 shares and leaving it with 36,361 shares valued at about $1.05 million.
• Insider selling was significant: Director Paul A. Gould sold 600,000 shares and CEO David Zaslav sold more than 4 million shares, with insiders offloading 8.2 million shares worth about $230.7 million over the last quarter.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $26.36, even as some firms upgraded or raised targets. The stock was trading near $27.03, and the company recently reported an earnings miss of $1.17 per share.

Banque Cantonale Vaudoise cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 62.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,361 shares of the company's stock after selling 61,548 shares during the period. Banque Cantonale Vaudoise's holdings in Warner Bros. Discovery were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Concord Wealth Partners boosted its holdings in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock valued at $26,000 after purchasing an additional 440 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake in Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock worth $27,000 after buying an additional 847 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $33,000. Rakuten Securities Inc. grew its position in shares of Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock valued at $33,000 after buying an additional 521 shares during the last quarter. Finally, TOWER TRUST & INVESTMENT Co grew its position in shares of Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock valued at $36,000 after buying an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 8th. Sanford C. Bernstein boosted their target price on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a "market perform" rating in a research report on Tuesday, February 24th. Benchmark reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They set an "equal weight" rating and a $31.00 target price for the company. Finally, Raymond James Financial restated an "underperform" rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Hold" and an average price target of $26.36.

Insider Activity

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares in the company, valued at approximately $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Zaslav sold 4,004,149 shares of the company's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.26, for a total value of $113,157,250.74. Following the sale, the chief executive officer owned 7,200,627 shares of the company's stock, valued at $203,489,719.02. This trade represents a 35.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 8,206,827 shares of company stock worth $230,674,025. 1.90% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Down 0.3%

WBD opened at $27.03 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.84 and a fifty-two week high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm's fifty day moving average price is $27.26 and its two-hundred day moving average price is $27.10. The company has a market capitalization of $67.77 billion, a P/E ratio of -38.61 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). The business had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) earnings per share. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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