Warner Bros. Discovery, Inc. $WBD Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC cut its Warner Bros. Discovery stake by 55.5% in the first quarter, selling 220,802 shares and retaining 177,215 shares valued at approximately $4.87 million. Institutional investors collectively own 59.95% of WBD.
• Analyst sentiment is mixed but leans neutral: WBD has an average “Hold” rating and a consensus price target of $27.04, with recent downgrades from Seaport Research Partners and Zacks Research.
• Warner Bros. Discovery reported a significant quarterly EPS miss, posting a loss of $1.17 per share versus the expected $0.10 loss, while revenue matched estimates at $8.89 billion and declined 1% year over year.

Empowered Funds LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 55.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,215 shares of the company's stock after selling 220,802 shares during the quarter. Empowered Funds LLC's holdings in Warner Bros. Discovery were worth $4,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss RE Ltd. purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $26,000. Fideuram Asset Management Ireland dac acquired a new position in Warner Bros. Discovery during the 4th quarter worth approximately $29,000. MV Capital Management Inc. purchased a new position in Warner Bros. Discovery in the 4th quarter worth approximately $30,000. Rakuten Securities Inc. boosted its holdings in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock worth $33,000 after acquiring an additional 521 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in Warner Bros. Discovery in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Seaport Research Partners lowered shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a research note on Monday, July 27th. Zacks Research downgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Huber Research raised shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a report on Monday, June 1st. UBS Group lifted their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Guggenheim reiterated a "neutral" rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $27.04.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $26.30 on Monday. The firm has a fifty day moving average of $26.57 and a two-hundred day moving average of $27.28. The firm has a market cap of $65.94 billion, a P/E ratio of -37.57 and a beta of 1.55. Warner Bros. Discovery, Inc. has a 1-year low of $10.76 and a 1-year high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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 net margin of 4.67% and a negative return on equity of 4.77%. The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter last year, the company posted ($0.18) EPS. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.08 earnings per share for the current fiscal year.

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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