Warner Bros. Discovery, Inc. $WBD Shares Sold by KBC Group NV

Key Points

• KBC Group NV cut its Warner Bros. Discovery stake by 38.6% in the first quarter, selling 1,336,401 shares and ending with 2,126,957 shares valued at about $58.4 million.
• WBD shares fell 3.8% and were trading around $25.86, after the company reported a wider-than-expected quarterly loss of $1.17 per share even as revenue matched estimates at $8.89 billion.
• Analyst sentiment remains cautious: the stock’s average rating is “Hold” with an average target price of $27.04, while recent news about a delayed Paramount-WBD merger has added uncertainty and weighed on investor sentiment.

KBC Group NV decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 38.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,126,957 shares of the company's stock after selling 1,336,401 shares during the period. KBC Group NV owned approximately 0.08% of Warner Bros. Discovery worth $58,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss RE Ltd. purchased a new stake in Warner Bros. Discovery during the 4th quarter valued at about $26,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $29,000. MV Capital Management Inc. acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $30,000. Rakuten Securities Inc. lifted its holdings in shares of Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock worth $33,000 after purchasing an additional 521 shares during the period. Finally, JPL Wealth Management LLC purchased 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.

Warner Bros. Discovery Stock Down 3.8%

Warner Bros. Discovery stock opened at $25.86 on Tuesday. The firm has a market cap of $64.83 billion, a price-to-earnings ratio of -36.94 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52 week low of $10.76 and a 52 week high of $30.00. The business's 50-day moving average price is $26.82 and its 200 day moving average price is $27.46. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced 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 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 period in the previous year, the firm posted ($0.18) earnings per share. The company's revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on WBD shares. KeyCorp reiterated an "overweight" rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Zacks Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Seaport Research Partners raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and set a $31.00 price objective on the stock in a report on Monday, June 29th. UBS Group increased their price objective 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 reissued a "neutral" rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of "Hold" and an average target price of $27.04.

Key Headlines Impacting Warner Bros. Discovery

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

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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