Global Endowment Management LP Trims Stake in Warner Bros. Discovery, Inc. $WBD

Global Endowment Management LP reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 63.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,556 shares of the company’s stock after selling 23,672 shares during the period. Global Endowment Management LP’s holdings in Warner Bros. Discovery were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock valued at $8,161,260,000 after buying an additional 1,966,278 shares during the last quarter. Geode Capital Management LLC increased its holdings in Warner Bros. Discovery by 1.6% during 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 buying an additional 1,028,346 shares during the last quarter. Norges Bank purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $1,123,807,000. Jericho Capital Asset Management L.P. increased its stake in shares of 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 worth $685,413,000 after purchasing an additional 18,291,865 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Warner Bros. Discovery by 4.8% in the fourth quarter. Morgan Stanley now owns 27,462,742 shares of the company’s stock worth $791,476,000 after purchasing an additional 1,254,813 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBD has been the subject of a number of analyst reports. Argus reduced their price objective on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. TD Cowen increased their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Benchmark reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. One equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.04.

Insider Activity

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

More Warner Bros. Discovery News

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

Warner Bros. Discovery Price Performance

WBD stock opened at $26.98 on Friday. 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 has a fifty day simple moving average of $27.12 and a two-hundred day simple moving average of $27.53. The firm has a market capitalization of $67.64 billion, a P/E ratio of -38.54 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last released 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). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter last year, the business earned ($0.18) EPS. Warner Bros. Discovery’s revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

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.