Pacer Advisors Inc. Sells 9,180,798 Shares of Warner Bros. Discovery, Inc. $WBD

Pacer Advisors Inc. lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 97.8% in the first quarter, Holdings Channel reports. The firm owned 207,834 shares of the company’s stock after selling 9,180,798 shares during the period. Pacer Advisors Inc.’s holdings in Warner Bros. Discovery were worth $5,707,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in Warner Bros. Discovery by 4.5% in the first quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock worth $232,000 after purchasing an additional 367 shares during the period. Krilogy Financial LLC grew its holdings in shares of Warner Bros. Discovery by 2.6% in the 1st quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock valued at $406,000 after buying an additional 369 shares during the period. Optas LLC increased its position in shares of Warner Bros. Discovery by 2.7% in the 1st quarter. Optas LLC now owns 15,529 shares of the company’s stock valued at $426,000 after buying an additional 409 shares in the last quarter. William B. Walkup & Associates Inc. increased its position in shares of Warner Bros. Discovery by 5.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 7,837 shares of the company’s stock valued at $215,000 after buying an additional 414 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its stake in Warner Bros. Discovery by 20.2% during the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock worth $71,000 after buying an additional 419 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 0.7%

Shares of NASDAQ:WBD opened at $25.97 on Thursday. The firm has a market cap of $65.11 billion, a price-to-earnings ratio of -37.10 and a beta of 1.55. Warner Bros. Discovery, Inc. has a 12 month low of $10.76 and a 12 month high of $30.00. The company’s fifty day simple moving average is $26.50 and its 200 day simple moving average is $27.22. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last announced its 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). 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%.Warner Bros. Discovery’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) earnings per share. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on WBD shares. Weiss Ratings lowered Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Seaport Research Partners lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Finally, Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus price target of $27.04.

Key Warner Bros. Discovery News

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

• Positive Sentiment: A federal judge scheduled the antitrust trial over Paramount’s proposed acquisition of WBD to begin March 2, 2027, with the case expected to last 12 court days. The timetable keeps the $81 billion transaction in play and gives shareholders greater visibility into the path toward closing. Antitrust Trial Over Paramount-Warner Merger Set for March
• Positive Sentiment: The delayed trial could increase the amount Paramount owes WBD shareholders through the transaction’s ticking-fee provisions. One estimate puts the potential payment above $1 billion based on the March trial date, improving the deal’s value if it ultimately closes. David Ellison’s Paramount would owe more than $1 billion to WBD shareholders
• Positive Sentiment: Paramount CEO David Ellison said the company is “absolutely open” to settling the antitrust lawsuit while expressing confidence Paramount would win at trial. His comments reduce the risk that the deal is abandoned immediately and preserve the possibility of a negotiated resolution. David Ellison Says Paramount Is Absolutely Open To Settling WBD Antitrust Suit
• Neutral Sentiment: Paramount reported strong streaming results but continued declines in linear television, highlighting the strategic rationale for combining with WBD while also underscoring the challenges facing the combined company. Paramount Fully Expects WBD Merger To Close
• Negative Sentiment: The merger remains paused while a dozen states pursue an antitrust challenge. Opposition also centers on concerns about David Ellison’s control of CNN and editorial independence, adding political and regulatory risk to the transaction. David Ellison Says Opposition to Paramount-Warner Bros. Is Over His Control of CNN

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.