BI Asset Management Fondsmaeglerselskab A S Trims Holdings in Warner Bros. Discovery, Inc. $WBD

BI Asset Management Fondsmaeglerselskab A S cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 46.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 565,740 shares of the company’s stock after selling 493,807 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Warner Bros. Discovery were worth $16,305,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. JFS Wealth Advisors LLC boosted its stake in Warner Bros. Discovery by 12.4% during the fourth 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 period. Salomon & Ludwin LLC lifted its stake in Warner Bros. Discovery by 20.2% during the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock worth $71,000 after purchasing an additional 419 shares during the last quarter. CYBER HORNET ETFs LLC lifted its stake in Warner Bros. Discovery by 7.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock worth $184,000 after purchasing an additional 425 shares during the last quarter. Root Financial Partners LLC lifted its stake in Warner Bros. Discovery by 17.5% during the fourth quarter. Root Financial Partners LLC now owns 2,879 shares of the company’s stock worth $83,000 after purchasing an additional 429 shares during the last quarter. Finally, Optas LLC lifted its stake in Warner Bros. Discovery by 3.0% during the fourth quarter. Optas LLC now owns 15,120 shares of the company’s stock worth $436,000 after purchasing an additional 435 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 2.8%

Shares of NASDAQ:WBD opened at $26.24 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $9.11 and a 1 year high of $30.00. The company has a market cap of $65.79 billion, a PE ratio of -37.49 and a beta of 1.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s 50-day moving average is $27.18 and its 200 day moving average is $27.40.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter last year, the company posted ($0.18) EPS. The firm’s revenue was down 1.0% on a year-over-year basis. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.93 EPS for the current year.

Wall Street Analyst Weigh In

WBD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating and lifted their price target for the stock from $29.50 to $31.00 in a research note on Friday, February 27th. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Moffett Nathanson raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. UBS Group lifted their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a research note on Monday, March 9th. They issued an “equal weight” rating and a $31.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.04.

Key Headlines Impacting Warner Bros. Discovery

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: Warner Bros. Discovery signed a World Series of Poker broadcast deal, which adds another content partnership and could support its media and sports programming strategy. WBD signs World Series of Poker broadcast deal
• Neutral Sentiment: Analysts noted WBD has been little changed since its last earnings report, with investors still waiting for a clearer operational turnaround. Warner Bros. Discovery (WBD) Down 0.4% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Paramount is seeking to dismiss a lawsuit aimed at blocking the Warner Bros. Discovery transaction, while other reports say states are preparing their own legal challenge, keeping the deal in limbo. U.S. states are preparing a lawsuit to block Paramount’s acquisition of Warner Bros
• Negative Sentiment: State attorneys general planning a lawsuit to block the Paramount Skydance acquisition of Warner Bros. Discovery is the biggest near-term concern, since it raises the odds of delay or even failure of the deal. Stock Market Today, June 5: Warner Bros. Discovery Falls on Reports of State Antitrust Challenge to Paramount Deal
• Negative Sentiment: Political scrutiny is increasing, with Senator Elizabeth Warren calling for a foreign-ownership review of the Paramount-WBD deal, adding another potential hurdle. Elizabeth Warren Calls For Foreign Ownership Review Of Paramount-WBD

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Fazal F. Merchant sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.48, for a total transaction of $961,800.00. Following the transaction, the director owned 95,539 shares in the company, valued at approximately $2,625,411.72. This represents a 26.81% 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, Director Paul A. Gould sold 600,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.35, for a total value of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at $6,683,163.95. This trade represents a 71.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 676,784 shares of company stock worth $18,534,231. Company insiders own 1.90% of the company’s stock.

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.