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

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CAO Lori Locke sold 29,115 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $28.13, for a total transaction of $819,004.95. Following the completion of the sale, the chief accounting officer owned 86,906 shares in the company, valued at approximately $2,444,665.78. This trade represents a 25.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Warner Bros. Discovery Stock Up 0.1%

NASDAQ:WBD opened at $28.07 on Thursday. The company has a market capitalization of $70.48 billion, a price-to-earnings ratio of -22.10 and a beta of 1.57. Warner Bros. Discovery, Inc. has a one year low of $17.08 and a one year high of $30.00. The stock has a 50-day simple moving average of $27.35 and a 200 day simple moving average of $27.21. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.20. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 11.2% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

More Warner Bros. Discovery News

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: Paramount Skydance extended the expiration dates for its tender and exchange offers, giving the transaction more time to clear regulatory and legal hurdles and reducing near-term pressure on the proposed WBD takeover. Paramount Skydance Extends Expiration Dates for Warner Bros. Discovery Tender and Exchange Offers
• Positive Sentiment: The Justice Department backed Paramount’s request that states challenging the deal post a bond to cover costs associated with delays. If approved, the requirement could increase financial pressure on the states and improve Paramount’s negotiating position. US DoJ backs bond demand in Paramount-Warner Bros antitrust fight
• Neutral Sentiment: A federal judge scheduled settlement discussions between Paramount and state attorneys general for October. Negotiations could help resolve the antitrust case, but the outcome and timing remain uncertain. Judge Sets Date For Settlement Talks In Paramount-WBD Antitrust Case
• Neutral Sentiment: Analyst price targets and forecasts provide a mixed view of WBD’s valuation, while potential strategic alternatives are being considered if the Paramount transaction collapses. Such alternatives could include operating independently or pursuing other asset and strategic transactions. Warner Bros. Discovery stock forecast and price target
• Negative Sentiment: Paramount is reportedly preparing plans to leave California amid the antitrust fight, highlighting the deal’s escalating political and legal conflict. A prolonged battle or failed transaction could delay expected merger benefits for WBD shareholders. Paramount Sets California Exit Plans Over Antitrust Battle
• Negative Sentiment: WBD Chief Accounting Officer Lori Locke sold 29,115 shares worth approximately $819,000, reducing her holdings by about 25%. The sale is a modest sentiment negative, although it does not by itself indicate a change in company fundamentals. SEC insider transaction filing

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently added to or reduced their stakes in WBD. Venturi Wealth Management LLC lifted its stake in shares of Warner Bros. Discovery by 4.5% in the first quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock valued at $232,000 after buying an additional 367 shares in the last quarter. Krilogy Financial LLC increased its position in shares of Warner Bros. Discovery by 2.6% during the first quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock worth $406,000 after acquiring an additional 369 shares in the last quarter. Community Bank N.A. increased its position in shares of Warner Bros. Discovery by 9.9% during the second quarter. Community Bank N.A. now owns 4,170 shares of the company’s stock worth $111,000 after acquiring an additional 374 shares in the last quarter. Cromwell Holdings LLC lifted its position in Warner Bros. Discovery by 7.6% in the 2nd quarter. Cromwell Holdings LLC now owns 5,467 shares of the company’s stock valued at $146,000 after acquiring an additional 386 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in Warner Bros. Discovery by 64.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock valued at $27,000 after purchasing an additional 395 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

About Warner Bros. Discovery

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.