Insider Selling: Warner Bros. Discovery, Inc. (NASDAQ:WBD) Insider Sells 169,436 Shares of Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) insider Savalle Sims sold 169,436 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now owns 599,317 shares of the company's stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Warner Bros. Discovery Trading Down 2.2 %

Shares of WBD traded down $0.25 during trading hours on Tuesday, reaching $11.35. 33,240,382 shares of the company traded hands, compared to its average volume of 29,658,643. The stock's fifty day moving average price is $9.19 and its 200 day moving average price is $8.27. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $27.84 billion, a price-to-earnings ratio of -2.49 and a beta of 1.52. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) EPS. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WBD shares. Macquarie raised their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. The Goldman Sachs Group boosted their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Monday, October 7th. Guggenheim lifted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a research report on Thursday, December 12th. Barclays boosted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. Finally, Rosenblatt Securities raised their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WBD. State Street Corp grew its holdings in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 2.6% during the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company's stock valued at $176,523,000 after purchasing an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company's stock valued at $172,338,000 after buying an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Warner Bros. Discovery by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company's stock worth $129,405,000 after buying an additional 687,612 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.