Carlson Capital L.P. Raises Stock Position in Warner Bros. Discovery, Inc. $WBD

Carlson Capital L.P. raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 140.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,000 shares of the company’s stock after acquiring an additional 56,000 shares during the quarter. Warner Bros. Discovery comprises approximately 0.8% of Carlson Capital L.P.’s holdings, making the stock its 10th largest position. Carlson Capital L.P.’s holdings in Warner Bros. Discovery were worth $2,636,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after purchasing an additional 51,920 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 50.5% during the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock valued at $679,000 after purchasing an additional 21,228 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Warner Bros. Discovery by 6.2% in the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after purchasing an additional 3,779 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after purchasing an additional 55,837 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Warner Bros. Discovery by 3.8% in the second quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock worth $1,277,000 after purchasing an additional 4,062 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $26.30 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $10.76 and a 1 year high of $30.00. The company has a fifty day simple moving average of $26.57 and a 200 day simple moving average of $27.29. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The company has a market cap of $65.94 billion, a P/E ratio of -37.57 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.18) EPS. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on WBD. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. UBS Group boosted their price target on 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 downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Finally, Seaport Research Partners lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Company 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.