Truist Financial Corp Has $6 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by Defense World Staff on Aug 12th, 2023

Truist Financial Corp lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 397,556 shares of the company’s stock after selling 16,232 shares during the period. Truist Financial Corp’s holdings in Warner Bros. Discovery were worth $6,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Aspire Private Capital LLC boosted its position in shares of Warner Bros. Discovery by 33.2% during the 4th quarter. Aspire Private Capital LLC now owns 2,823 shares of the company’s stock worth $26,762,040,000 after acquiring an additional 704 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in Warner Bros. Discovery by 1.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 38,375 shares of the company’s stock valued at $364,000 after purchasing an additional 708 shares during the last quarter. Kentucky Retirement Systems lifted its stake in Warner Bros. Discovery by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 173,683 shares of the company’s stock valued at $1,647,000 after purchasing an additional 759 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Warner Bros. Discovery by 1.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 50,356 shares of the company’s stock valued at $760,000 after purchasing an additional 770 shares during the last quarter. Finally, MV Capital Management Inc. lifted its stake in Warner Bros. Discovery by 57.0% in the 1st quarter. MV Capital Management Inc. now owns 2,421 shares of the company’s stock valued at $37,000 after purchasing an additional 879 shares during the last quarter. Institutional investors and hedge funds own 56.08% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other news, insider Gerhard Zeiler purchased 38,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $14.09 per share, with a total value of $535,420.00. Following the completion of the transaction, the insider now directly owns 329,032 shares of the company’s stock, valued at $4,636,060.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Gerhard Zeiler acquired 38,000 shares of the stock in a transaction on Monday, August 7th. The shares were acquired at an average price of $14.09 per share, with a total value of $535,420.00. Following the completion of the transaction, the insider now owns 329,032 shares in the company, valued at approximately $4,636,060.88. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gunnar Wiedenfels acquired 15,000 shares of the stock in a transaction on Thursday, May 25th. The stock was bought at an average cost of $11.22 per share, for a total transaction of $168,300.00. Following the transaction, the chief financial officer now owns 738,849 shares of the company’s stock, valued at approximately $8,289,885.78. The disclosure for this purchase can be found here. 1.60% of the stock is owned by insiders.

Warner Bros. Discovery Stock Down 3.0 %

WBD opened at $13.70 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average is $12.95 and its 200 day moving average is $13.64. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $16.34. The firm has a market capitalization of $33.37 billion, a P/E ratio of -4.96 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.12). Warner Bros. Discovery had a negative net margin of 16.04% and a positive return on equity of 1.27%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on WBD. Wolfe Research downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a research note on Friday, July 7th. Barrington Research upgraded shares of Warner Bros. Discovery from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Tuesday, May 16th. Truist Financial decreased their price objective on shares of Warner Bros. Discovery from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Evercore ISI decreased their price objective on shares of Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $15.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus price target of $20.38.

Get Our Latest Analysis on WBD

Warner Bros. Discovery Company Profile

(Free Report)

Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.