Warner Bros. Discovery (NASDAQ:WBD) Insider Sells $1,162,430.88 in Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) insider Bruce Campbell sold 41,784 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the sale, the insider owned 604,666 shares of the company’s stock, valued at approximately $16,821,808.12. The trade was a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Bruce Campbell also recently made the following trade(s):

• On Wednesday, March 4th, Bruce Campbell sold 55,118 shares of Warner Bros. Discovery stock. The stock was sold at an average price of $28.00, for a total value of $1,543,304.00.
• On Wednesday, March 4th, Bruce Campbell sold 1,580,331 shares of Warner Bros. Discovery stock. The shares were sold at an average price of $28.00, for a total value of $44,249,268.00.

Warner Bros. Discovery Trading Down 1.3%

Shares of WBD stock opened at $27.44 on Friday. The business has a 50-day moving average of $28.18 and a 200 day moving average of $23.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $30.00. The stock has a market capitalization of $68.00 billion, a PE ratio of 94.63 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.19). Warner Bros. Discovery had a return on equity of 1.98% and a net margin of 1.95%.The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.33 billion. During the same period last year, the firm earned ($0.20) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the subject of several analyst reports. Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Arete Research restated a “neutral” rating and issued a $31.25 price objective on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Morgan Stanley set a $29.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 18th. Rothschild & Co Redburn set a $31.00 target price on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Finally, Sanford C. Bernstein raised their target price on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.30.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. TriaGen Wealth Management LLC purchased a new stake in Warner Bros. Discovery in the third quarter worth $443,000. Penserra Capital Management LLC lifted its position in Warner Bros. Discovery by 29,882.6% during the second quarter. Penserra Capital Management LLC now owns 62,064 shares of the company’s stock valued at $710,000 after buying an additional 61,857 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Warner Bros. Discovery by 7.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 19,463,234 shares of the company’s stock valued at $223,049,000 after buying an additional 1,333,005 shares in the last quarter. Swedbank AB grew its position in shares of Warner Bros. Discovery by 3.7% in the 3rd quarter. Swedbank AB now owns 1,065,445 shares of the company’s stock worth $20,808,000 after buying an additional 37,986 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Warner Bros. Discovery by 1.0% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,572,301 shares of the company’s stock worth $18,019,000 after buying an additional 16,006 shares during the period. 59.95% of the stock is currently owned by institutional investors.

About Warner Bros. Discovery

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.