Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 41.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,547 shares of the company’s stock after selling 2,521 shares during the quarter. Truvestments Capital LLC’s holdings in Warner Bros. Discovery were worth $31,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WBD. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $27,000. First Financial Corp IN increased its stake in Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after buying an additional 2,887 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. Future Financial Wealth Managment LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $33,000. Finally, Rakuten Securities Inc. purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $35,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WBD shares. Evercore ISI cut their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, July 17th. Sanford C. Bernstein dropped their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a research report on Friday, May 10th. Finally, Barrington Research reissued an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.87.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded up $0.32 during trading hours on Friday, reaching $8.31. 22,906,845 shares of the company’s stock were exchanged, compared to its average volume of 27,455,124. The firm has a market capitalization of $20.36 billion, a price-to-earnings ratio of -6.70 and a beta of 1.49. The company has a 50-day moving average of $7.73 and a 200 day moving average of $8.58. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery, Inc. has a 1-year low of $6.94 and a 1-year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.41 EPS for the current 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.