Atlantic Union Bankshares Corp Sells 19,461 Shares of Warner Bros. Discovery, Inc. $WBD

Atlantic Union Bankshares Corp cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 43.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,692 shares of the company’s stock after selling 19,461 shares during the period. Atlantic Union Bankshares Corp’s holdings in Warner Bros. Discovery were worth $740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors lifted its position in shares of Warner Bros. Discovery by 86.8% in the 4th quarter. World Investment Advisors now owns 39,346 shares of the company’s stock worth $1,134,000 after purchasing an additional 18,284 shares during the period. Valley Wealth Managers Inc. grew its stake in shares of Warner Bros. Discovery by 4,833.7% in the 4th quarter. Valley Wealth Managers Inc. now owns 39,075 shares of the company’s stock worth $1,126,000 after acquiring an additional 38,283 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $224,000. HighPoint Advisor Group LLC grew its stake in shares of Warner Bros. Discovery by 218.3% in the 4th quarter. HighPoint Advisor Group LLC now owns 183,853 shares of the company’s stock worth $5,299,000 after acquiring an additional 126,098 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $9,590,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the topic of a number of research analyst reports. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Zacks Research cut shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Finally, Argus reduced their price target on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.36.

Warner Bros. Discovery Trading Down 0.5%

Shares of WBD opened at $26.98 on Friday. The stock has a market capitalization of $67.64 billion, a P/E ratio of -38.54 and a beta of 1.57. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $27.33 and a two-hundred day simple moving average of $26.90. Warner Bros. Discovery, Inc. has a twelve month low of $8.82 and a twelve month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) EPS. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 1,580,331 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $28.00, for a total value of $44,249,268.00. Following the completion of the transaction, the insider owned 690,028 shares of the company’s stock, valued at $19,320,784. The trade was a 69.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction dated 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 owned 244,357 shares of the company’s stock, valued at $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery 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.