Readystate Asset Management LP Buys 1,343,333 Shares of Warner Bros. Discovery, Inc. $WBD

Readystate Asset Management LP lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 424.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,659,671 shares of the company’s stock after purchasing an additional 1,343,333 shares during the period. Warner Bros. Discovery accounts for 2.0% of Readystate Asset Management LP’s holdings, making the stock its 5th biggest position. Readystate Asset Management LP’s holdings in Warner Bros. Discovery were worth $45,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. 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 worth $8,161,260,000 after buying an additional 1,966,278 shares during the last quarter. Geode Capital Management LLC lifted 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 acquiring an additional 1,028,346 shares during the last quarter. Norges Bank acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at $1,123,807,000. Morgan Stanley grew its position in shares of Warner Bros. Discovery by 4.8% in the 4th quarter. Morgan Stanley now owns 27,462,742 shares of the company’s stock valued at $791,476,000 after acquiring an additional 1,254,813 shares during the period. Finally, Northern Trust Corp grew its position in shares of Warner Bros. Discovery by 3.9% in the 3rd quarter. Northern Trust Corp now owns 23,496,725 shares of the company’s stock valued at $458,891,000 after acquiring an additional 876,869 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. UBS Group boosted their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Seaport Research Partners lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Weiss Ratings cut Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently 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: Paramount CEO David Ellison said he remains confident that the Paramount–Warner Bros. Discovery transaction will clear legal hurdles and close, reassuring employees and investors despite the delay. Paramount CEO confident on Warner Bros. merger
• Positive Sentiment: A Wall Street Journal opinion article argued that combining Paramount and WBD could help Hollywood compete in a highly concentrated global entertainment market. While not a formal regulatory decision, the view supports the strategic rationale for the deal. The Paramount-Warner Merger Could Save Hollywood
• Neutral Sentiment: WBD sued Amazon over the hiring of an HBO Max executive, calling the recruitment effort an “employee shopping spree” and seeking an order restricting future employee poaching. The case could protect key talent, but litigation may also create costs and management distraction. Warner Bros. Discovery sues Amazon over HBO Max executive hire
• Negative Sentiment: SAG-AFTRA and other entertainment-industry voices oppose the Paramount-WBD deal, while state antitrust litigation and concerns from some WBD executives raise the risk of additional delays or concessions. SAG-AFTRA opposes Paramount-WBD deal
• Negative Sentiment: Seaport Research downgraded WBD to “neutral” from “buy,” citing merger uncertainty and insufficient regulatory clarity. The downgrade contributed to recent selling pressure as investors reassess the deal’s timing and probability. Warner Bros Stock Downgraded After Paramount Merger Delay

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $25.61 on Wednesday. Warner Bros. Discovery, Inc. has a 52 week low of $10.76 and a 52 week high of $30.00. The company has a market capitalization of $64.21 billion, a price-to-earnings ratio of -36.59 and a beta of 1.54. The company has a 50-day simple moving average of $26.65 and a 200 day simple moving average of $27.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Warner Bros. Discovery Company 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.