BBR Partners LLC Lowers Stake in Warner Bros. Discovery, Inc. $WBD

BBR Partners LLC lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 73.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,290 shares of the company’s stock after selling 40,040 shares during the period. BBR Partners LLC’s holdings in Warner Bros. Discovery were worth $164,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WBD. WPG Advisers LLC bought a new position in Warner Bros. Discovery in the 1st quarter worth about $26,000. Financial Gravity Companies Inc. purchased a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $29,000. Trifecta Capital Advisors LLC bought a new position in Warner Bros. Discovery in the second quarter worth approximately $34,000. Elevation Point Wealth Partners LLC purchased a new position in Warner Bros. Discovery during the 2nd quarter worth $44,000. Finally, ST Germain D J Co. Inc. raised its position in Warner Bros. Discovery by 4,720.5% during the 2nd quarter. ST Germain D J Co. Inc. now owns 4,001 shares of the company’s stock valued at $46,000 after purchasing an additional 3,918 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WBD shares. Argus set a $28.00 price target on Warner Bros. Discovery in a research report on Monday. Barrington Research cut shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a report on Friday, December 5th. Morgan Stanley boosted their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Arete Research boosted their price target on shares of Warner Bros. Discovery from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Finally, Redburn Partners set a $28.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.58.

Warner Bros. Discovery Stock Up 1.7%

NASDAQ:WBD opened at $29.98 on Friday. The company’s 50-day simple moving average is $22.35 and its 200-day simple moving average is $16.17. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $30.00. The stock has a market capitalization of $74.29 billion, a P/E ratio of 157.80, a P/E/G ratio of 1.06 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the sale, the chief financial officer owned 918,940 shares of the company’s stock, valued at $27,108,730. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lori C. Locke sold 4,122 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the transaction, the chief accounting officer directly owned 100,962 shares in the company, valued at $2,919,821.04. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,020,119 shares of company stock valued at $23,131,920. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Company Profile

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.