Louisiana State Employees Retirement System Acquires New Stake in Warner Bros. Discovery, Inc. $WBD

Louisiana State Employees Retirement System acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the first quarter, Holdings Channel reports. The fund acquired 289,200 shares of the company’s stock, valued at approximately $7,941,000.

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

Warner Bros. Discovery News Summary

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

• Positive Sentiment: Reports that EU regulators may approve a Paramount-Warner Bros. Discovery deal have lifted WBD shares as investors price in a higher probability of a takeover. Warner Bros. Discovery gains on report EU regulators will approve Paramount deal (WBD)
• Positive Sentiment: Paramount is reportedly prepared to divest its Universal Pictures joint venture to address EU antitrust concerns, improving the odds that the WBD acquisition can move forward. Paramount ready to sell Universal Pictures JV for Warner deal, source says
• Positive Sentiment: Additional coverage says WBD is advancing on merger optimism, reflecting continued buying interest around the deal narrative. Warner Bros. Discovery (WBD) Stock Rises on EU Approval Hopes for Paramount Merger
• Positive Sentiment: Paramount may consider dropping its UIP distribution deal to win European approval, another sign management is making concessions that could help close the transaction. Paramount may pull out of UIP distribution deal with Universal to win EU backing for WBD takeover

Warner Bros. Discovery Price Performance

WBD stock opened at $26.98 on Friday. The business has a fifty day moving average of $26.98 and a two-hundred day moving average of $27.71. 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 stock has a market cap of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $10.75 and a 52-week high of $30.00.

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

Analyst Ratings Changes

A number of analysts have commented on the stock. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Argus dropped their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Moffett Nathanson raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. Finally, UBS Group lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus target price 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.