Warner Bros. Discovery (NASDAQ:WBD) Director Anton Levy Sells 340,000 Shares of Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Free Report) Director Anton Levy sold 340,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 618,067 shares of the company’s stock, valued at approximately $17,546,922.13. The trade was a 35.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Warner Bros. Discovery Trading Down 0.5%

NASDAQ:WBD traded down $0.13 on Tuesday, hitting $28.12. The stock had a trading volume of 14,127,320 shares, compared to its average volume of 22,622,756. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The stock has a market cap of $70.60 billion, a price-to-earnings ratio of -22.14 and a beta of 1.57. The company has a fifty day moving average price of $27.12 and a two-hundred day moving average price of $27.25. Warner Bros. Discovery, Inc. has a 1-year low of $12.00 and a 1-year high of $30.00.

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Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the business posted $0.63 EPS. The company’s revenue was down 11.2% compared to the same quarter last year. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. 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. Seaport Research Partners downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Freedom Capital raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.69.

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Warner Bros. Discovery Company Profile

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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.

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