Eubel Brady & Suttman Asset Management Inc. Sells 608,381 Shares of Warner Bros. Discovery, Inc. $WBD

Eubel Brady & Suttman Asset Management Inc. decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 26.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,669,261 shares of the company’s stock after selling 608,381 shares during the period. Warner Bros. Discovery makes up approximately 5.4% of Eubel Brady & Suttman Asset Management Inc.’s portfolio, making the stock its 2nd largest position. Eubel Brady & Suttman Asset Management Inc.’s holdings in Warner Bros. Discovery were worth $48,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. JFS Wealth Advisors LLC grew its stake in Warner Bros. Discovery by 12.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock valued at $99,000 after buying an additional 378 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Warner Bros. Discovery by 20.2% in the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after buying an additional 419 shares during the last quarter. Optas LLC grew its stake in Warner Bros. Discovery by 3.0% in the 4th quarter. Optas LLC now owns 15,120 shares of the company’s stock valued at $436,000 after buying an additional 435 shares during the last quarter. Armstrong Advisory Group Inc. grew its stake in Warner Bros. Discovery by 7.7% in the 4th quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company’s stock valued at $176,000 after buying an additional 436 shares during the last quarter. Finally, Concord Wealth Partners grew its stake in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after buying an additional 440 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on WBD shares. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and raised their target price for the company from $29.50 to $31.00 in a research note on Friday, February 27th. Arete Research reissued a “neutral” rating and issued a $31.25 price target on shares of Warner Bros. Discovery in a report on Friday, February 27th. Rothschild & Co Redburn set a $31.00 price target on shares of Warner Bros. Discovery and gave the company a “neutral” rating in a report on Tuesday, February 17th. Sanford C. Bernstein increased their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a report on Tuesday, February 24th. Finally, Huber Research downgraded shares of Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.36.

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 dated 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 approximately $203,489,719.02. This trade represents a 35.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 617,580 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total transaction of $17,446,635.00. Following the transaction, the chief financial officer directly owned 691,570 shares of the company’s stock, valued at $19,536,852.50. The trade was a 47.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,206,827 shares of company stock worth $230,674,025 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD opened at $26.98 on Friday. The stock has a market cap of $67.64 billion, a PE ratio of -38.54 and a beta of 1.57. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 1 year low of $8.82 and a 1 year high of $30.00. The stock’s 50 day simple moving average is $27.33 and its 200-day simple moving average is $26.90.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

About Warner Bros. Discovery

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.