Warner Bros. Discovery, Inc. $WBD Shares Sold by TSP Capital Management Group LLC

TSP Capital Management Group LLC decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 31.3% in the 1st quarter, HoldingsChannel reports. The fund owned 214,392 shares of the company’s stock after selling 97,456 shares during the quarter. Warner Bros. Discovery comprises about 1.4% of TSP Capital Management Group LLC’s investment portfolio, making the stock its 25th biggest holding. TSP Capital Management Group LLC’s holdings in Warner Bros. Discovery were worth $5,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBD. Private Advisory Group LLC purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $3,438,000. Hauser Brothers GmbH raised its position in Warner Bros. Discovery by 19.8% during the third quarter. Hauser Brothers GmbH now owns 2,877,000 shares of the company’s stock worth $56,188,000 after acquiring an additional 476,000 shares during the last quarter. US Bancorp DE raised its position in Warner Bros. Discovery by 32.7% during the third quarter. US Bancorp DE now owns 175,293 shares of the company’s stock worth $3,423,000 after acquiring an additional 43,240 shares during the last quarter. Triad Investment Management purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $9,383,000. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Warner Bros. Discovery by 4.3% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Key Warner Bros. Discovery News

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

• Positive Sentiment: Paramount reportedly offered concessions to the European Commission, including plans to exit UIP, in an effort to secure EU approval for the Warner merger. That could improve the odds the transaction eventually clears antitrust review. Paramount Skydance Offers Concessions to Facilitate EU Approval of $81 Billion Warner Bros Deal
• Positive Sentiment: Several reports say Paramount is actively submitting concessions to address European competition concerns, suggesting management is still pushing hard to keep the deal alive. Paramount Submits Concessions To Gain EU Approval For Warner Bros. Discovery Deal
• Neutral Sentiment: Paramount Skydance said it has gained key global merger approvals, which is constructive for the transaction overall, but the remaining UK and EU hurdles still make the path to closing uncertain. Paramount Skydance Gains Key Global Merger Approvals
• Negative Sentiment: The UK government said it is “minded to intervene” in the proposed Paramount-Warner merger, citing media plurality and news-sector concentration concerns, raising the risk of a prolonged review. UK government says it’s likely to challenge $110 billion Paramount-Warner Bros. merger
• Negative Sentiment: Additional reports from UK media outlets echo that regulators may intervene, reinforcing fears that the deal could face major political and antitrust obstacles. UK ‘minded’ to intervene in Paramount’s $110bn takeover of Warner Bros Discovery

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WBD shares. Seaport Research Partners raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday. Moffett Nathanson raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.04.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $26.81 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $67.22 billion, a PE ratio of -38.30 and a beta of 1.54. The firm has a 50 day simple moving average of $26.94 and a 200-day simple moving average of $27.66. Warner Bros. Discovery, Inc. has a 1-year low of $10.76 and a 1-year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results 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). The firm had revenue of $8.89 billion for 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 firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) EPS. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current 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.