Rockefeller Capital Management L.P. Sells 316,880 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Rockefeller Capital Management cut its Warner Bros. Discovery stake by 76.5% in the fourth quarter, selling 316,880 shares and leaving it with 97,274 shares worth about $2.8 million.
• Other institutions also adjusted their positions, with several funds buying more WBD shares while institutional ownership remained high at 59.95%.
• WBD shares have been buoyed by merger speculation and ongoing DC-related content announcements, even as the stock continues to carry a Hold consensus rating from analysts.

Rockefeller Capital Management L.P. trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 76.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,274 shares of the company's stock after selling 316,880 shares during the period. Rockefeller Capital Management L.P.'s holdings in Warner Bros. Discovery were worth $2,803,000 as of its most recent SEC filing.

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

Trending Headlines about Warner Bros. Discovery

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

• Positive Sentiment: Shares rose on reports that EU regulators may be willing to approve a Paramount deal involving Warner Bros. Discovery, raising hopes that a merger could unlock value for WBD shareholders. Article Title
• Positive Sentiment: Warner Bros. Discovery’s DC strategy remains in focus after Warner Bros. Animation announced three new DC TV series, reinforcing the company’s ability to keep building its superhero content pipeline. Article Title
• Positive Sentiment: The company also teamed with AWS around the “Supergirl” release, extending DC’s reach and adding another marketing/engagement channel for the franchise. Article Title
• Neutral Sentiment: Coverage on Warner Bros. Discovery’s lifestyle merchandising strategy questioned whether it deepens the DC brand or risks diluting focus; this looks more like a strategic debate than a near-term financial catalyst. Article Title
• Neutral Sentiment: Forbes reported that Warner Bros. is likely to keep its existing PVOD release strategy for DC’s “Supergirl,” suggesting continuity rather than a major change to the film monetization approach. Article Title

Analyst Ratings Changes

Several research firms recently commented on WBD. Guggenheim restated a "neutral" rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Weiss Ratings cut Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. UBS Group lifted their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Argus reduced their target price 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, Huber Research raised shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.04.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $26.74 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The firm has a market cap of $67.04 billion, a P/E ratio of -38.20 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 12 month low of $10.76 and a 12 month high of $30.00. The company'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 - 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 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 analyst estimates of $8.89 billion. During the same quarter in the previous year, the company posted ($0.18) earnings per share. Warner Bros. Discovery's revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal 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.

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