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

OP Asset Management Ltd acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 365,119 shares of the company’s stock, valued at approximately $10,026,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisory Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $3,438,000. Hauser Brothers GmbH grew its holdings in Warner Bros. Discovery by 19.8% during the 3rd quarter. Hauser Brothers GmbH now owns 2,877,000 shares of the company’s stock worth $56,188,000 after acquiring an additional 476,000 shares during the period. US Bancorp DE raised its position in shares of Warner Bros. Discovery by 32.7% during the 3rd quarter. US Bancorp DE now owns 175,293 shares of the company’s stock valued at $3,423,000 after acquiring an additional 43,240 shares during the last quarter. Triad Investment Management bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $9,383,000. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of Warner Bros. Discovery by 4.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company’s stock valued at $26,419,000 after purchasing an additional 38,105 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

WBD stock opened at $26.98 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $10.75 and a 1-year high of $30.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The firm has a market cap of $67.64 billion, a PE ratio of -38.54 and a beta of 1.54. The business’s 50-day moving average price is $26.98 and its two-hundred day moving average price is $27.71.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly 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 business 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 firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.18) earnings per share. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Analyst Ratings Changes

WBD has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating and raised their price target for the stock from $29.50 to $31.00 in a research report on Friday, February 27th. Wells Fargo & Company began coverage on Warner Bros. Discovery in a research note on Monday, March 9th. They issued an “equal weight” rating and a $31.00 target price on the stock. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Argus lowered their price target on 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. Finally, Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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

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.