Truvestments Capital LLC Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Truvestments Capital LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 41.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,547 shares of the company’s stock after selling 2,521 shares during the period. Truvestments Capital LLC’s holdings in Warner Bros. Discovery were worth $31,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $33,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares during the last quarter. Rakuten Securities Inc. purchased a new position in Warner Bros. Discovery in the 4th quarter worth approximately $35,000. Crewe Advisors LLC purchased a new position in Warner Bros. Discovery in the 1st quarter worth approximately $27,000. Finally, First Financial Corp IN raised its holdings in Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after acquiring an additional 2,887 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI decreased their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Macquarie lowered shares of Warner Bros. Discovery from an “outperform” rating to a “neutral” rating and set a $9.00 price objective for the company. in a report on Thursday. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a report on Tuesday, April 23rd. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a report on Friday, May 10th. Finally, Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, July 17th. One investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.87.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded up $0.32 during mid-day trading on Friday, reaching $8.31. 22,906,845 shares of the company’s stock traded hands, compared to its average volume of 27,455,124. Warner Bros. Discovery, Inc. has a 12 month low of $6.94 and a 12 month high of $14.76. The firm has a 50 day moving average price of $7.73 and a two-hundred day moving average price of $8.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $20.36 billion, a PE ratio of -6.70 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -0.41 EPS for the current year.

Warner Bros. Discovery 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.