Becker Capital Management Inc. Sells 216,637 Shares of Warner Bros. Discovery, Inc. $WBD

Becker Capital Management Inc. lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 45.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 259,385 shares of the company’s stock after selling 216,637 shares during the period. Becker Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $2,973,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WBD. WPG Advisers LLC acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $26,000. Financial Gravity Companies Inc. acquired a new position in shares of Warner Bros. Discovery in the second quarter valued at approximately $29,000. Trifecta Capital Advisors LLC bought a new position in Warner Bros. Discovery in the 2nd quarter valued at approximately $34,000. Elevation Point Wealth Partners LLC acquired a new stake in Warner Bros. Discovery during the 2nd quarter worth approximately $44,000. Finally, Zions Bancorporation National Association UT bought a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $42,000. 59.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. The trade was a 37.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This represents a 31.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 927,125 shares of company stock worth $18,663,597. Insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $29.53 on Thursday. The stock has a market capitalization of $73.17 billion, a PE ratio of 155.43, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $29.81. The company’s 50-day moving average is $21.92 and its 200-day moving average is $15.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.Warner Bros. Discovery’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

WBD has been the topic of several analyst reports. Raymond James Financial boosted their price objective on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Morgan Stanley raised their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 25th. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a research note on Friday, September 26th. Sanford C. Bernstein upped their target price on Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Finally, The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a “buy” rating in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.35.

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.