Trust Co. of Vermont Sells 3,539 Shares of Warner Bros. Discovery, Inc. $WBD

Trust Co. of Vermont reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,913 shares of the company’s stock after selling 3,539 shares during the quarter. Trust Co. of Vermont’s holdings in Warner Bros. Discovery were worth $423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WBD. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery in the first quarter valued at $27,000. North Capital Inc. acquired a new position in shares of Warner Bros. Discovery in the first quarter valued at $28,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Warner Bros. Discovery in the first quarter valued at $29,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after purchasing an additional 2,352 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on WBD shares. Sanford C. Bernstein upped their price objective on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a report on Monday, September 22nd. UBS Group upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. TD Cowen restated a “hold” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Cowen downgraded shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Barclays upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.64.

Warner Bros. Discovery Trading Down 0.9%

Shares of Warner Bros. Discovery stock opened at $19.35 on Thursday. The company has a market capitalization of $47.91 billion, a price-to-earnings ratio of 64.50, a PEG ratio of 2.50 and a beta of 1.73. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $20.24. The firm’s 50-day moving average price is $14.22 and its two-hundred day moving average price is $11.41.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted ($4.07) earnings per share. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares in the company, valued at $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the sale, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 970,115 shares of company stock worth $17,818,490 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

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.