Whittier Trust Co. Sells 950 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by Defense World Staff on Jul 9th, 2023

Whittier Trust Co. reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,456 shares of the company’s stock after selling 950 shares during the quarter. Whittier Trust Co.’s holdings in Warner Bros. Discovery were worth $324,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WBD. Thompson Siegel & Walmsley LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $32,838,000. Retirement Systems of Alabama bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $8,438,000. First Trust Advisors LP bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $4,168,000. Price T Rowe Associates Inc. MD bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $49,058,000. Finally, Pathstone Family Office LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $891,000. Institutional investors own 56.08% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels purchased 15,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were acquired at an average price of $11.22 per share, with a total value of $168,300.00. Following the transaction, the chief financial officer now owns 738,849 shares of the company’s stock, valued at $8,289,885.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on WBD shares. Truist Financial started coverage on Warner Bros. Discovery in a research note on Monday, April 10th. They issued a “buy” rating and a $19.00 price target for the company. Wolfe Research downgraded Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a research note on Friday. Barrington Research upgraded Warner Bros. Discovery from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a research note on Tuesday, May 16th. Wells Fargo & Company upgraded Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $20.00 in a research note on Friday, March 17th. Finally, 22nd Century Group restated a “maintains” rating on shares of Warner Bros. Discovery in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus price target of $20.55.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $12.54 on Friday. The stock’s fifty day moving average is $12.50 and its two-hundred day moving average is $13.30. The company has a market capitalization of $30.55 billion, a PE ratio of -3.34 and a beta of 1.51. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.96. Warner Bros. Discovery, Inc. has a 52 week low of $8.82 and a 52 week high of $17.65.

Warner Bros. Discovery (NASDAQ:WBD – Free Report) last posted its quarterly earnings results on Friday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Warner Bros. Discovery had a positive return on equity of 3.24% and a negative net margin of 21.51%. The firm had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.63 billion. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -0.76 earnings per share for the current year.

Warner Bros. Discovery Company Profile

(Free Report)

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.