Warner Bros. Discovery (NASDAQ:WBD) CAO Lori Locke Sells 29,115 Shares

Key Points

• Warner Bros. Discovery CAO Lori Locke sold 29,115 shares at an average price of $28.13, totaling approximately $819,005. Her remaining stake fell by 25.09% to 86,906 shares.
• WBD reported quarterly EPS of $0.06, exceeding the $0.14 loss analysts expected, but revenue of $8.72 billion missed estimates and declined 11.2% year over year. Analysts project a full-year loss of $1.08 per share.
• The stock opened at $28.03, near its 12-month high, while analysts maintain a consensus “Hold” rating with an average price target of $27.69; institutional investors own 59.95% of the company.

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 transaction, the chief accounting officer owned 86,906 shares in the company, valued at $2,444,665.78. This trade represents a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Warner Bros. Discovery Trading Down 0.2%

Shares of NASDAQ WBD opened at $28.03 on Wednesday. Warner Bros. Discovery, Inc. has a twelve month low of $17.08 and a twelve month high of $30.00. 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 stock has a fifty day simple moving average of $27.31 and a 200-day simple moving average of $27.22. The stock has a market capitalization of $70.37 billion, a PE ratio of -22.07 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.20. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $9.25 billion. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.Warner Bros. Discovery's revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -1.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC increased its holdings in Warner Bros. Discovery by 4.5% during the 1st quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company's stock worth $232,000 after purchasing an additional 367 shares in the last quarter. Krilogy Financial LLC raised its position in Warner Bros. Discovery by 2.6% in the 1st quarter. Krilogy Financial LLC now owns 14,809 shares of the company's stock valued at $406,000 after buying an additional 369 shares during the last quarter. Community Bank N.A. lifted its stake in Warner Bros. Discovery by 9.9% during the 2nd quarter. Community Bank N.A. now owns 4,170 shares of the company's stock valued at $111,000 after acquiring an additional 374 shares in the last quarter. Cromwell Holdings LLC lifted its position in shares of Warner Bros. Discovery by 7.6% during the second quarter. Cromwell Holdings LLC now owns 5,467 shares of the company's stock valued at $146,000 after purchasing an additional 386 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its stake in Warner Bros. Discovery by 64.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company's stock valued at $27,000 after buying an additional 395 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

WBD has been the subject of several research reports. Seaport Research Partners downgraded shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Warner Bros. Discovery from a "sell (d-)" rating to a "sell (d+)" rating in a report on Tuesday, August 18th. Huber Research upgraded shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research note on Monday, June 1st. Zacks Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, Freedom Capital raised Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of "Hold" and a consensus price target of $27.69.

Warner Bros. Discovery Company Profile

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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