480,378 Shares in Warner Bros. Discovery, Inc. $WBD Acquired by SEB Asset Management AB

Key Points

• SEB Asset Management AB opened a new position in Warner Bros. Discovery, buying 480,378 shares valued at about $13.2 million in the first quarter.
• Institutional ownership remains high, with hedge funds and other investors holding 59.95% of Warner Bros. Discovery shares, and several funds recently added to their stakes.
• Warner Bros. Discovery reported a wider-than-expected quarterly loss of ($1.17) EPS, while revenue came in at $8.89 billion, in line with estimates; analysts currently rate the stock a Hold with a consensus target price of $27.04.

SEB Asset Management AB bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 480,378 shares of the company's stock, valued at approximately $13,191,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Private Advisory Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth $3,438,000. Triad Investment Management acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $9,383,000. Mn Services Vermogensbeheer B.V. boosted its stake in Warner Bros. Discovery by 4.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company's stock valued at $26,419,000 after acquiring an additional 38,105 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Warner Bros. Discovery by 130.8% in the fourth quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company's stock valued at $29,069,000 after acquiring an additional 571,612 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after purchasing an additional 51,920 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $25.86 on Tuesday. Warner Bros. Discovery, Inc. has a one year low of $10.76 and a one year high of $30.00. The stock has a market capitalization of $64.83 billion, a price-to-earnings ratio of -36.94 and a beta of 1.54. The company has a 50-day simple moving average of $26.82 and a 200-day simple moving average of $27.46. 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 - Get Free Report) last released its quarterly earnings results 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). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company had revenue of $8.89 billion for the quarter, compared to analysts' expectations of $8.89 billion. During the same period in the prior year, the business earned ($0.18) EPS. The business's quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts predict that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Warner Bros. Discovery News Summary

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

• Negative Sentiment: The proposed Paramount-WBD merger has been temporarily halted, removing an immediate takeover catalyst and increasing uncertainty around deal completion. Paramount and Warner Bros. merger hit with temporary restraining order
• Negative Sentiment: A coalition of state attorneys general is challenging the transaction on antitrust grounds, which could prolong the legal process or derail the acquisition altogether. Judge orders Paramount to temporarily pause Warner Bros acquisition
• Neutral Sentiment: Market coverage also noted WBD closed at its lowest level since Dec. 4, reflecting weaker investor sentiment as the merger timeline becomes less certain. Warner Bros. Closes at Lowest Since Dec. 4 | Closing Bell

Analysts Set New Price Targets

A number of research firms have recently commented on WBD. Zacks Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. KeyCorp restated an "overweight" rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Huber Research raised Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research report on Monday, June 1st. UBS Group boosted their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $27.04.

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.

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