Warner Bros. Discovery, Inc. $WBD Stake Lowered by Senator Investment Group LP

Senator Investment Group LP lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,049,244 shares of the company’s stock after selling 787,500 shares during the period. Warner Bros. Discovery makes up about 3.5% of Senator Investment Group LP’s portfolio, making the stock its 10th biggest position. Senator Investment Group LP’s holdings in Warner Bros. Discovery were worth $87,879,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock valued at $8,161,260,000 after purchasing an additional 1,966,278 shares during the last quarter. Geode Capital Management LLC grew its stake in Warner Bros. Discovery by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after purchasing an additional 1,028,346 shares during the last quarter. Norges Bank purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $1,123,807,000. Jericho Capital Asset Management L.P. grew its stake in Warner Bros. Discovery by 108.9% in the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after purchasing an additional 18,291,865 shares during the last quarter. Finally, Morgan Stanley grew its stake in Warner Bros. Discovery by 4.8% in the fourth quarter. Morgan Stanley now owns 27,462,742 shares of the company’s stock valued at $791,476,000 after purchasing an additional 1,254,813 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings lowered Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. UBS Group lifted their target price on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. Argus cut their target price on 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. Finally, Rothschild & Co Redburn set a $31.00 target price on Warner Bros. Discovery and gave the company a “neutral” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $26.83 on Tuesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $10.04 and a fifty-two week high of $30.00. The firm has a market capitalization of $67.27 billion, a price-to-earnings ratio of -38.33 and a beta of 1.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $27.11 and its 200-day simple moving average is $27.59.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business had revenue of $8.89 billion for 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% on a year-over-year basis. As a group, equities analysts forecast 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.