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

Bruni J V & Co. Co. trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 99.3% during the fourth quarter, HoldingsChannel.com reports. The fund 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.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock worth $8,161,260,000 after purchasing an additional 1,966,278 shares in the last quarter. Geode Capital Management LLC increased its stake in Warner Bros. Discovery by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock worth $1,912,634,000 after purchasing an additional 1,028,346 shares in the last quarter. Norges Bank bought a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $1,123,807,000. Jericho Capital Asset Management L.P. increased its stake in Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock worth $685,413,000 after purchasing an additional 18,291,865 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Warner Bros. Discovery by 3.9% during the 3rd quarter. Northern Trust Corp now owns 23,496,725 shares of the company’s stock worth $458,891,000 after purchasing an additional 876,869 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WBD shares. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Wells Fargo & Company started coverage on Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 target price for the company. Raymond James Financial reissued an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. UBS Group increased their target price on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research cut Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.04.

Insider Activity at Warner Bros. Discovery

In other news, CEO David Zaslav sold 4,004,149 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the completion of the transaction, the chief executive officer directly owned 7,200,627 shares of the company’s stock, valued at $203,489,719.02. This trade represents a 35.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerhard Zeiler sold 600,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the transaction, the insider directly owned 672,649 shares of the company’s stock, valued at $18,847,624.98. This represents a 47.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 8,206,827 shares of company stock worth $230,674,025. 1.90% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $27.01 on Friday. The stock has a market capitalization of $67.72 billion, a P/E ratio of -38.59 and a beta of 1.57. Warner Bros. Discovery, Inc. has a twelve month low of $9.11 and a twelve month high of $30.00. The company has a 50 day moving average of $27.22 and a 200-day moving average of $27.25. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results 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 business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.Warner Bros. Discovery’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) earnings per share. As a group, equities research analysts forecast 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.