Insider Selling: Warner Bros. Discovery (NASDAQ:WBD) Director Sells $9,652,600.00 in Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Anton Levy sold 340,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $28.39, for a total transaction of $9,652,600.00. Following the completion of the transaction, the director directly owned 618,067 shares in the company, valued at $17,546,922.13. The trade was a 35.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $28.20 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $12.56 and a fifty-two week high of $30.00. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $70.80 billion, a P/E ratio of -22.20 and a beta of 1.57. The firm’s fifty day moving average price is $27.20 and its 200-day moving average price is $27.24.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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 company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $9.25 billion. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss RE Ltd. bought a new position in Warner Bros. Discovery during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC boosted its stake in shares of Warner Bros. Discovery by 111.2% during the second quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after purchasing an additional 496 shares during the period. Field & Main Bank bought a new position in shares of Warner Bros. Discovery in the second quarter worth approximately $26,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth $29,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of Warner Bros. Discovery by 64.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock worth $27,000 after buying an additional 395 shares during the period. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings upgraded Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Seaport Research Partners lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Freedom Capital upgraded shares of 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 given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.