KBC Group NV Decreases Stock Position in Warner Bros. Discovery, Inc. $WBD

KBC Group NV lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 38.6% during the first quarter, HoldingsChannel reports. The firm owned 2,126,957 shares of the company’s stock after selling 1,336,401 shares during the period. KBC Group NV’s holdings in Warner Bros. Discovery were worth $58,406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Private Advisory Group LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $3,438,000. Triad Investment Management purchased a new position in Warner Bros. Discovery during the fourth quarter worth about $9,383,000. Mn Services Vermogensbeheer B.V. boosted its holdings in Warner Bros. Discovery by 4.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company’s stock valued at $26,419,000 after purchasing an additional 38,105 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Warner Bros. Discovery by 130.8% in the 4th quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock valued at $29,069,000 after purchasing an additional 571,612 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after buying an additional 51,920 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $25.86 on Tuesday. The firm has a 50-day simple moving average of $26.82 and a two-hundred day simple moving average of $27.46. The stock has a market cap of $64.83 billion, a PE ratio of -36.94 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 1-year low of $10.76 and a 1-year high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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 company 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%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) earnings per share. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Key Warner Bros. Discovery News

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

• Negative Sentiment: The proposed Paramount-WBD merger has been temporarily halted, removing an immediate takeover catalyst and increasing uncertainty around deal completion. Paramount and Warner Bros. merger hit with temporary restraining order
• Negative Sentiment: A coalition of state attorneys general is challenging the transaction on antitrust grounds, which could prolong the legal process or derail the acquisition altogether. Judge orders Paramount to temporarily pause Warner Bros acquisition
• Neutral Sentiment: Market coverage also noted WBD closed at its lowest level since Dec. 4, reflecting weaker investor sentiment as the merger timeline becomes less certain. Warner Bros. Closes at Lowest Since Dec. 4 | Closing Bell

Wall Street Analyst Weigh In

WBD has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. UBS Group upped their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Seaport Research Partners upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, June 29th. Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery presently 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.