State Street Corp Reduces Stock Position in Warner Bros. Discovery, Inc. $WBD

State Street Corp reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,066,834 shares of the company’s stock after selling 27,262,597 shares during the quarter. State Street Corp owned about 5.29% of Warner Bros. Discovery worth $3,777,346,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Swiss RE Ltd. purchased a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $26,000. Fideuram Asset Management Ireland dac purchased a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. lifted its stake in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares in the last quarter. TOWER TRUST & INVESTMENT Co lifted its stake in Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $44,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In related news, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fazal F. Merchant sold 35,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the transaction, the director owned 95,539 shares in the company, valued at $2,625,411.72. This represents a 26.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $26.98 on Friday. The stock has a market cap of $67.64 billion, a PE ratio of -38.54 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52 week low of $9.98 and a 52 week high of $30.00. 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 company’s fifty day moving average is $27.12 and its 200 day moving average is $27.53.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (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 firm had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the previous year, the firm posted ($0.18) EPS. Warner Bros. Discovery’s revenue was down 1.0% compared to the same quarter last year. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Key Stories Impacting Warner Bros. Discovery

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

• Positive Sentiment: The DOJ reportedly cleared Paramount Skydance’s acquisition of Warner Bros. Discovery, removing a key antitrust obstacle and improving the chances the deal closes. Justice Department says Paramount’s Warner deal wouldn’t harm competition
• Positive Sentiment: Reports that the merger was approved helped fuel speculation that Warner Bros. Discovery shareholders could benefit from a takeover premium if the deal advances. Paramount-WBD merger wins approval from DOJ, source says
• Neutral Sentiment: Shareholders rejected David Zaslav’s proposed $165 million pay package for 2025 in a non-binding vote, which adds governance noise but is not likely to change the near-term merger story. Warner Bros. Shareholders Reject David Zaslav’s $165 Million Pay Package for 2025

Analyst Upgrades and Downgrades

Several analysts have issued reports on WBD shares. Argus lowered their target price on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery 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.