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

Global Endowment Management LP lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 63.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,556 shares of the company’s stock after selling 23,672 shares during the quarter. Global Endowment Management LP’s holdings in Warner Bros. Discovery were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of WBD. Norges Bank purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $1,123,807,000. Vanguard Group Inc. increased its position in shares of Warner Bros. Discovery by 7.1% during the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock valued at $5,492,112,000 after buying an additional 18,736,600 shares during the period. Jericho Capital Asset Management L.P. boosted its stake in Warner Bros. Discovery by 108.9% during 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 acquiring an additional 18,291,865 shares in the last quarter. Duquesne Family Office LLC bought a new stake in Warner Bros. Discovery during the second quarter worth about $74,916,000. Finally, Amundi boosted its stake in Warner Bros. Discovery by 59.6% during the third quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after acquiring an additional 5,798,592 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Fazal F. Merchant sold 35,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the transaction, the director owned 95,539 shares in the company, valued at $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul A. Gould sold 600,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WBD has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $29.50 to $31.00 in a research note on Friday, February 27th. Benchmark reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Argus dropped their price objective on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Raymond James Financial reissued an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Trading Up 0.4%

Shares of NASDAQ WBD opened at $26.98 on Friday. The firm’s 50 day moving average price is $27.12 and its 200-day moving average price is $27.53. The company has a market cap of $67.64 billion, a PE ratio of -38.54 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $9.98 and a 52-week high of $30.00. 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 issued its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The firm had revenue of $8.89 billion during 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 quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) EPS. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Key Stories Impacting Warner Bros. Discovery

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 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.