Bruni J V & Co. Co. Sells 7,103 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bruni J V & Co. Co. decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,158,439 shares of the company’s stock after selling 7,103 shares during the period. Warner Bros. Discovery comprises approximately 1.1% of Bruni J V & Co. Co.’s holdings, making the stock its 26th largest holding. Bruni J V & Co. Co.’s holdings in Warner Bros. Discovery were worth $9,557,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sessa Capital IM L.P. boosted its position in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after acquiring an additional 5,100,000 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Warner Bros. Discovery by 781.3% during the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp boosted its holdings in Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. grew its stake in shares of Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after purchasing an additional 2,000,000 shares during the period. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on WBD. Wells Fargo & Company decreased their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Macquarie boosted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Barclays boosted their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Moffett Nathanson cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $9.47 on Tuesday. The company’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $7.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the business earned ($0.17) EPS. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

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.