BI Asset Management Fondsmaeglerselskab A S Has $16.31 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

BI Asset Management Fondsmaeglerselskab A S decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 46.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 565,740 shares of the company's stock after selling 493,807 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Warner Bros. Discovery were worth $16,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. Brighton Jones LLC increased its stake in shares of Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after buying an additional 51,920 shares during the period. NewEdge Advisors LLC boosted its position in shares of Warner Bros. Discovery by 50.5% during the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company's stock valued at $679,000 after purchasing an additional 21,228 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Warner Bros. Discovery by 6.2% during the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company's stock valued at $698,000 after purchasing an additional 3,779 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Warner Bros. Discovery by 91.6% during the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company's stock valued at $1,254,000 after purchasing an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Warner Bros. Discovery by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company's stock valued at $1,277,000 after purchasing an additional 4,062 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings lowered Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Sanford C. Bernstein upped their target price on Warner Bros. Discovery from $23.50 to $27.75 and gave the company a "market perform" rating in a research report on Tuesday, February 24th. KeyCorp restated an "overweight" rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered Warner Bros. Discovery from a "buy" rating to a "hold" rating and upped their target price for the company from $29.50 to $31.00 in a research report on Friday, February 27th. Finally, Argus cut their target price on Warner Bros. Discovery from $32.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $27.04.

Insider Buying and Selling

In related news, insider Bruce Campbell sold 41,784 shares of Warner Bros. Discovery stock in a transaction on Monday, March 9th. The stock was sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the sale, the insider directly owned 604,666 shares in the company, valued at approximately $16,821,808.12. This trade represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fazal F. Merchant sold 35,000 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the sale, the director directly owned 95,539 shares of the company's stock, valued at $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 676,784 shares of company stock worth $18,534,231. 1.90% of the stock is owned by company insiders.

Warner Bros. Discovery Stock Down 2.8%

Shares of NASDAQ:WBD opened at $26.24 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $9.11 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. The business's 50 day simple moving average is $27.18 and its two-hundred day simple moving average is $27.40. The firm has a market cap of $65.79 billion, a P/E ratio of -37.49 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced 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 company had revenue of $8.89 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -0.93 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: Warner Bros. Discovery signed a World Series of Poker broadcast deal, which adds another content partnership and could support its media and sports programming strategy. WBD signs World Series of Poker broadcast deal
• Neutral Sentiment: Analysts noted WBD has been little changed since its last earnings report, with investors still waiting for a clearer operational turnaround. Warner Bros. Discovery (WBD) Down 0.4% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Paramount is seeking to dismiss a lawsuit aimed at blocking the Warner Bros. Discovery transaction, while other reports say states are preparing their own legal challenge, keeping the deal in limbo. U.S. states are preparing a lawsuit to block Paramount's acquisition of Warner Bros
• Negative Sentiment: State attorneys general planning a lawsuit to block the Paramount Skydance acquisition of Warner Bros. Discovery is the biggest near-term concern, since it raises the odds of delay or even failure of the deal. Stock Market Today, June 5: Warner Bros. Discovery Falls on Reports of State Antitrust Challenge to Paramount Deal
• Negative Sentiment: Political scrutiny is increasing, with Senator Elizabeth Warren calling for a foreign-ownership review of the Paramount-WBD deal, adding another potential hurdle. Elizabeth Warren Calls For Foreign Ownership Review Of Paramount-WBD

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.

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