Warner Bros. Discovery, Inc. $WBD Stake Trimmed by Capricorn Fund Managers Ltd

Capricorn Fund Managers Ltd lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,939 shares of the company’s stock after selling 55,729 shares during the period. Capricorn Fund Managers Ltd’s holdings in Warner Bros. Discovery were worth $2,964,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WBD. Vanguard Group Inc. raised its position in Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock valued at $8,161,260,000 after buying an additional 1,966,278 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after buying an additional 1,028,346 shares during the last quarter. Norges Bank bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $1,123,807,000. Jericho Capital Asset Management L.P. grew its stake in shares of Warner Bros. Discovery by 108.9% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after buying an additional 18,291,865 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Warner Bros. Discovery by 4.8% in the fourth quarter. Morgan Stanley now owns 27,462,742 shares of the company’s stock worth $791,476,000 after buying an additional 1,254,813 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Down 1.7%

Shares of WBD stock opened at $26.66 on Wednesday. Warner Bros. Discovery, Inc. has a 12 month low of $10.76 and a 12 month high of $30.00. The company has a market cap of $66.84 billion, a PE ratio of -38.09 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $26.95 and its two-hundred day moving average is $27.68.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data 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). The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.Warner Bros. Discovery’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. Equities analysts predict that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. UBS Group lifted their target price on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They issued an “equal weight” rating and a $31.00 price objective for the company. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Finally, Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Profile

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.