Warner Bros. Discovery, Inc. $WBD Shares Purchased by PSquared Asset Management AG

PSquared Asset Management AG raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,663,164 shares of the company’s stock after acquiring an additional 122,288 shares during the period. Warner Bros. Discovery makes up approximately 15.9% of PSquared Asset Management AG’s investment portfolio, making the stock its largest position. PSquared Asset Management AG’s holdings in Warner Bros. Discovery were worth $45,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. Compound Planning Inc. boosted its stake in Warner Bros. Discovery by 20.4% in the 1st quarter. Compound Planning Inc. now owns 30,392 shares of the company’s stock valued at $835,000 after purchasing an additional 5,151 shares during the period. Bank of Nova Scotia grew its holdings in Warner Bros. Discovery by 17.3% in the 1st quarter. Bank of Nova Scotia now owns 4,998,709 shares of the company’s stock valued at $137,265,000 after buying an additional 738,783 shares in the last quarter. DLD Asset Management LP increased its position in Warner Bros. Discovery by 66.1% during the 1st quarter. DLD Asset Management LP now owns 28,400 shares of the company’s stock worth $780,000 after buying an additional 11,300 shares during the period. Levin Capital Strategies L.P. bought a new position in Warner Bros. Discovery during the 1st quarter worth $275,000. Finally, ABN Amro Investment Solutions acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth $2,484,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. UBS Group raised their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings cut shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and an average target price of $27.04.

Key Warner Bros. Discovery News

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

• Positive Sentiment: Warner Bros. Discovery received European Commission approval for the Paramount Skydance acquisition, removing a major international regulatory hurdle and improving the odds that the deal can eventually close. European Commission Approves Paramount Skydance Corporation Acquisition of Warner Bros. Discovery
• Positive Sentiment: Analysts and market commentary continue to frame the media sector as entering a consolidation phase, which supports the view that WBD remains a strategic takeover target. The Netflix-Lionsgate Rumor Exposed a Bigger Shift in Media M&A (WBD)
• Neutral Sentiment: The EU approval came with conditions, including changes to Paramount’s distribution arrangements, so the deal still faces execution risk even after the regulatory green light. EU regulators clear with conditions Paramount’s $110 billion bid for Warner Bros
• Negative Sentiment: A federal judge paused the Paramount-WBD transaction through mid-August while considering lawsuits from state attorneys general and the Writers Guild, extending the timeline and adding legal uncertainty. Paramount-Warner Bros deal paused through August 17, judge rules
• Negative Sentiment: Heavy put-option buying suggests some traders are positioning for downside or hedging against a failed or delayed deal. Traders Buy Large Volume of Put Options on Warner Bros. Discovery (NASDAQ:WBD)

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $25.95 on Friday. The firm’s 50 day simple moving average is $26.74 and its 200 day simple moving average is $27.40. The firm has a market capitalization of $65.06 billion, a price-to-earnings ratio of -37.07 and a beta of 1.54. 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 $10.76 and a 1 year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates 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 firm’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 earned ($0.18) earnings per share. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal 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.