Gunnar Wiedenfels Sells 222,210 Shares of Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) CFO Gunnar Wiedenfels sold 222,210 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the transaction, the chief financial officer owned 918,940 shares of the company’s stock, valued at approximately $20,676,150. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Gunnar Wiedenfels also recently made the following trade(s):

• On Monday, September 15th, Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD traded down $0.16 during trading on Monday, reaching $22.29. The stock had a trading volume of 41,366,495 shares, compared to its average volume of 48,838,113. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $22.56. The business’s 50-day moving average price is $17.38 and its 200 day moving average price is $12.99. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $55.18 billion, a PE ratio of 74.30, a P/E/G ratio of 2.56 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the company posted ($4.07) earnings per share. Warner Bros. Discovery’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Institutional Trading of Warner Bros. Discovery

A number of institutional investors have recently bought and sold shares of WBD. WPG Advisers LLC bought a new stake in Warner Bros. Discovery in the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Warner Bros. Discovery in the 1st quarter valued at $27,000. Financial Gravity Companies Inc. bought a new stake in Warner Bros. Discovery in the 2nd quarter valued at $29,000. Grove Bank & Trust lifted its position in Warner Bros. Discovery by 66.5% during the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after buying an additional 675 shares in the last quarter. Finally, Trifecta Capital Advisors LLC bought a new stake in Warner Bros. Discovery during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WBD. Benchmark raised their price target on shares of Warner Bros. Discovery from $18.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, September 30th. TD Cowen reissued a “hold” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Finally, KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.91.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.