365,119 Shares in Warner Bros. Discovery, Inc. $WBD Bought by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 1st quarter, Holdings Channel reports. The fund acquired 365,119 shares of the company’s stock, valued at approximately $10,026,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Krilogy Financial LLC lifted its holdings in shares of Warner Bros. Discovery by 2.6% in the first quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock valued at $406,000 after purchasing an additional 369 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 12.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock worth $99,000 after buying an additional 378 shares in the last quarter. Salomon & Ludwin LLC raised its position in Warner Bros. Discovery by 20.2% in the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after buying an additional 419 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in Warner Bros. Discovery by 7.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock valued at $184,000 after buying an additional 425 shares during the last quarter. Finally, Root Financial Partners LLC lifted its stake in Warner Bros. Discovery by 17.5% in the 4th quarter. Root Financial Partners LLC now owns 2,879 shares of the company’s stock valued at $83,000 after acquiring an additional 429 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on WBD. Benchmark reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Arete Research reiterated a “neutral” rating and issued a $31.25 price objective on shares of Warner Bros. Discovery in a report on Friday, February 27th. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Finally, UBS Group lifted their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. One equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.04.

More Warner Bros. Discovery News

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

• Positive Sentiment: Reports that EU regulators may approve a Paramount-Warner Bros. Discovery deal have lifted WBD shares as investors price in a higher probability of a takeover. Warner Bros. Discovery gains on report EU regulators will approve Paramount deal (WBD)
• Positive Sentiment: Paramount is reportedly prepared to divest its Universal Pictures joint venture to address EU antitrust concerns, improving the odds that the WBD acquisition can move forward. Paramount ready to sell Universal Pictures JV for Warner deal, source says
• Positive Sentiment: Additional coverage says WBD is advancing on merger optimism, reflecting continued buying interest around the deal narrative. Warner Bros. Discovery (WBD) Stock Rises on EU Approval Hopes for Paramount Merger
• Positive Sentiment: Paramount may consider dropping its UIP distribution deal to win European approval, another sign management is making concessions that could help close the transaction. Paramount may pull out of UIP distribution deal with Universal to win EU backing for WBD takeover

Warner Bros. Discovery Stock Down 0.8%

WBD stock opened at $26.98 on Friday. 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 business has a 50 day moving average price of $26.98 and a two-hundred day moving average price of $27.71. The company has a market cap of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.54. Warner Bros. Discovery, Inc. has a twelve month low of $10.75 and a twelve month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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). The company had revenue of $8.89 billion for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. Analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 EPS 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.