Warner Bros. Discovery (NASDAQ:WBD) Director Kenneth Lowe Sells 200,000 Shares

Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Kenneth Lowe sold 200,000 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $28.23, for a total value of $5,646,000.00. Following the sale, the director owned 590,108 shares of the company’s stock, valued at approximately $16,658,748.84. This represents a 25.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Warner Bros. Discovery Stock Down 0.6%

Warner Bros. Discovery stock traded down $0.16 during midday trading on Friday, reaching $28.04. The company’s stock had a trading volume of 12,963,177 shares, compared to its average volume of 16,579,190. Warner Bros. Discovery, Inc. has a 52-week low of $17.08 and a 52-week 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’s 50-day simple moving average is $27.23 and its 200-day simple moving average is $27.24.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.20. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. Warner Bros. Discovery’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Investment Advisory LLC grew its position in Warner Bros. Discovery by 111.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after acquiring an additional 496 shares in the last quarter. Field & Main Bank acquired a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at $26,000. Swiss RE Ltd. acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at $26,000. Elevation Wealth Partners LLC raised its position in shares of Warner Bros. Discovery by 64.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock worth $27,000 after acquiring an additional 395 shares in the last quarter. Finally, Archer Investment Corp purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $27,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. 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. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Freedom Capital upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Seaport Research Partners cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price 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.