Warner Bros. Discovery, Inc. $WBD Stock Holdings Lessened by Eubel Brady & Suttman Asset Management Inc.

Key Points

• Eubel Brady & Suttman Asset Management cut its Warner Bros. Discovery stake by 26.7% in the fourth quarter, selling 608,381 shares and leaving it with 1,669,261 shares worth about $48.1 million.
• Insiders also sold heavily: Gerhard Zeiler and director Paul A. Gould each sold 600,000 shares, and insider selling totaled 8.2 million shares worth about $230.7 million in the last quarter.
• Warner Bros. Discovery missed earnings expectations, reporting a loss of $1.17 per share versus forecasts for a $0.10 loss, while revenue matched estimates at $8.89 billion; analysts currently rate the stock a consensus Hold with an average target price of $26.36.

Eubel Brady & Suttman Asset Management Inc. reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 26.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,669,261 shares of the company's stock after selling 608,381 shares during the quarter. Warner Bros. Discovery comprises approximately 5.4% of Eubel Brady & Suttman Asset Management Inc.'s portfolio, making the stock its 2nd biggest holding. Eubel Brady & Suttman Asset Management Inc. owned approximately 0.07% of Warner Bros. Discovery worth $48,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WBD. JFS Wealth Advisors LLC lifted its position in shares of Warner Bros. Discovery by 12.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company's stock valued at $99,000 after acquiring an additional 378 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Warner Bros. Discovery by 20.2% in the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company's stock valued at $71,000 after acquiring an additional 419 shares in the last quarter. Optas LLC lifted its position in shares of Warner Bros. Discovery by 3.0% in the 4th quarter. Optas LLC now owns 15,120 shares of the company's stock valued at $436,000 after acquiring an additional 435 shares in the last quarter. Armstrong Advisory Group Inc. lifted its position in shares of Warner Bros. Discovery by 7.7% in the 4th quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company's stock valued at $176,000 after acquiring an additional 436 shares in the last quarter. Finally, Concord Wealth Partners lifted its position in shares of Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock valued at $26,000 after acquiring an additional 440 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, insider Gerhard Zeiler sold 600,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the transaction, the insider owned 672,649 shares in the company, valued at $18,847,624.98. This represents a 47.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul A. Gould sold 600,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 8,206,827 shares of company stock worth $230,674,025. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WBD has been the subject of several research analyst reports. Guggenheim restated a "neutral" rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Wells Fargo & Company initiated coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They issued an "equal weight" rating and a $31.00 price target for the company. Argus reduced their price target on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Sanford C. Bernstein upped their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a "market perform" rating in a research report on Tuesday, February 24th. Finally, TD Cowen upped their price target on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a "hold" rating in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.36.

Warner Bros. Discovery Stock Down 0.5%

Warner Bros. Discovery stock opened at $26.98 on Friday. The firm has a market cap of $67.64 billion, a PE ratio of -38.54 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The firm's 50 day moving average price is $27.33 and its two-hundred day moving average price is $26.90. Warner Bros. Discovery, Inc. has a twelve month low of $8.82 and a twelve month high of $30.00.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.