Warner Bros. Discovery, Inc. $WBD Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL decreased its holdings in Warner Bros. Discovery by 27.5% in the second quarter, selling 21,612 shares and bringing their total ownership to 56,936 shares valued at approximately $652,000.
• Director Anton J. Levy purchased 250,000 shares of Warner Bros. Discovery stock worth about $2.725 million, indicating a significant investment in the company's future.
• The company's quarterly earnings beat analyst expectations, reporting $0.63 earnings per share, significantly higher than the expected loss of $0.16, with a revenue increase of 1.0% year-over-year to $9.81 billion.

Blair William & Co. IL decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 27.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,936 shares of the company's stock after selling 21,612 shares during the quarter. Blair William & Co. IL's holdings in Warner Bros. Discovery were worth $652,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WBD. WPG Advisers LLC purchased a new stake in Warner Bros. Discovery during the first quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery during the first quarter worth $27,000. North Capital Inc. purchased a new stake in Warner Bros. Discovery during the first quarter worth $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Warner Bros. Discovery during the first quarter worth $29,000. Finally, Golden State Wealth Management LLC boosted its position in Warner Bros. Discovery by 448.0% during the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock worth $31,000 after purchasing an additional 2,352 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insiders Place Their Bets

In related news, Director Anton J. Levy purchased 250,000 shares of the business's 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 acquisition, the director owned 874,000 shares in the company, valued at approximately $9,526,600. This trade represents a 40.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total value of $4,768,026.56. Following the sale, the insider directly owned 402,464 shares in the company, valued at $6,632,606.72. The trade was a 41.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 970,115 shares of company stock valued at $17,818,490 in the last quarter. Insiders own 1.90% of the company's stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $18.29 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a 1 year low of $7.25 and a 1 year high of $20.24. The firm has a market cap of $45.28 billion, a P/E ratio of 60.97, a price-to-earnings-growth ratio of 2.25 and a beta of 1.73. The stock has a 50-day simple moving average of $15.38 and a 200-day simple moving average of $11.99.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Moffett Nathanson upped their price objective on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Sanford C. Bernstein upped their price objective on Warner Bros. Discovery from $13.00 to $16.00 and gave the company a "market perform" rating in a research report on Monday, September 22nd. KeyCorp restated a "sector weight" rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. Guggenheim upped their price objective on Warner Bros. Discovery from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Finally, Benchmark restated a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $17.00.

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.

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