Bruni J V & Co. Co. Has $224,000 Stock Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Bruni J V & Co. Co. cut its Warner Bros. Discovery stake by 99.3% in the fourth quarter, leaving it with 7,777 shares worth about $224,000.
• Analysts are mixed on WBD: the stock currently carries an average Hold rating with an average price target of $27.04, while recent rating changes included both upgrades and downgrades.
• Warner Bros. Discovery reported weaker-than-expected earnings for the quarter, posting EPS of -$1.17 versus the expected -$0.10, even though revenue matched estimates at $8.89 billion.

Bruni J V & Co. Co. decreased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 99.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,777 shares of the company's stock after selling 1,139,781 shares during the period. Bruni J V & Co. Co.'s holdings in Warner Bros. Discovery were worth $224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WBD. Concord Wealth Partners lifted its position in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock worth $26,000 after buying an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock worth $27,000 after buying an additional 847 shares in the last quarter. Fideuram Asset Management Ireland dac acquired a new position in Warner Bros. Discovery during the 4th quarter worth about $29,000. Rakuten Securities Inc. lifted its position in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock worth $33,000 after buying an additional 521 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in Warner Bros. Discovery during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Ratings Changes

WBD has been the topic of several research reports. Benchmark reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Argus cut their target price on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings downgraded shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. KeyCorp restated an "overweight" rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Finally, Huber Research downgraded shares of Warner Bros. Discovery from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $27.04.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $27.01 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 1 year low of $9.11 and a 1 year high of $30.00. The company has a market cap of $67.72 billion, a PE ratio of -38.59 and a beta of 1.57. The company's 50-day moving average is $27.22 and its two-hundred day moving average is $27.25.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The business's revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Gunnar Wiedenfels sold 374,323 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.05, for a total value of $10,499,760.15. Following the sale, the chief financial officer directly owned 663,380 shares in the company, valued at $18,607,809. This trade represents a 36.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruce Campbell sold 41,784 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the completion of the sale, the insider owned 604,666 shares in the company, valued at $16,821,808.12. This represents a 6.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,206,827 shares of company stock worth $230,674,025 over the last ninety days. Company insiders own 1.90% of the company's stock.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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