Boit C F David Sells 2,326 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Boit C F David lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,400 shares of the company’s stock after selling 2,326 shares during the period. Boit C F David’s holdings in Warner Bros. Discovery were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bard Financial Services Inc. boosted its holdings in Warner Bros. Discovery by 13.7% during the second quarter. Bard Financial Services Inc. now owns 21,500 shares of the company’s stock worth $270,000 after buying an additional 2,590 shares during the last quarter. Good Life Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 12.8% during the 2nd quarter. Good Life Advisors LLC now owns 11,444 shares of the company’s stock valued at $144,000 after purchasing an additional 1,295 shares in the last quarter. Triad Investment Management lifted its holdings in shares of Warner Bros. Discovery by 0.9% during the 2nd quarter. Triad Investment Management now owns 173,113 shares of the company’s stock valued at $2,171,000 after purchasing an additional 1,465 shares in the last quarter. Sanders Morris Harris LLC lifted its holdings in shares of Warner Bros. Discovery by 86.7% during the 2nd quarter. Sanders Morris Harris LLC now owns 20,152 shares of the company’s stock valued at $257,000 after purchasing an additional 9,361 shares in the last quarter. Finally, Czech National Bank lifted its holdings in shares of Warner Bros. Discovery by 0.8% during the 2nd quarter. Czech National Bank now owns 262,431 shares of the company’s stock valued at $3,291,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors own 58.26% of the company’s stock.

Insider Activity

In related news, insider Gerhard Zeiler bought 38,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $14.09 per share, for a total transaction of $535,420.00. Following the transaction, the insider now owns 329,032 shares in the company, valued at approximately $4,636,060.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD opened at $11.84 on Friday. The business has a fifty day simple moving average of $12.71 and a 200 day simple moving average of $13.14. The company has a market capitalization of $28.86 billion, a PE ratio of -4.29 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Warner Bros. Discovery, Inc. has a 1 year low of $8.82 and a 1 year high of $16.34.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 3rd. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.12). The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.44 billion. Warner Bros. Discovery had a negative net margin of 16.04% and a positive return on equity of 1.27%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Research analysts expect that Warner Bros. Discovery, Inc. will post -1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Warner Bros. Discovery from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. Benchmark reiterated a “buy” rating and set a $26.00 price objective on shares of Warner Bros. Discovery in a report on Monday, August 7th. Wolfe Research cut Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. Evercore ISI dropped their target price on Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, July 24th. Finally, Truist Financial reissued a “buy” rating and issued a $17.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.66.

Warner Bros. Discovery Profile

Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.