Warner Bros. Discovery, Inc. $WBD Shares Sold by TSP Capital Management Group LLC

Key Points

• TSP Capital Management Group LLC cut its Warner Bros. Discovery stake by 31.3% in the first quarter, selling 97,456 shares and leaving it with 214,392 shares worth about $5.9 million.
• Warner Bros. Discovery reported a worse-than-expected quarterly loss, posting EPS of -$1.17 versus an expected -$0.10, while revenue of $8.89 billion matched estimates and declined 1% year over year.
• Investor attention is also centered on the Paramount-Warner merger, as Paramount reportedly offers concessions to win EU approval, but UK regulators are signaling possible intervention that could delay or complicate the deal.

TSP Capital Management Group LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 214,392 shares of the company's stock after selling 97,456 shares during the quarter. Warner Bros. Discovery makes up about 1.4% of TSP Capital Management Group LLC's holdings, making the stock its 25th largest position. TSP Capital Management Group LLC's holdings in Warner Bros. Discovery were worth $5,887,000 at the end of the most recent reporting period.

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

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $26.81 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $67.22 billion, a price-to-earnings ratio of -38.30 and a beta of 1.54. The firm's fifty day moving average price is $26.94 and its 200 day moving average price is $27.66. Warner Bros. Discovery, Inc. has a 1-year low of $10.76 and a 1-year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter last year, the business posted ($0.18) EPS. The firm's revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Warner Bros. Discovery News Roundup

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

• Positive Sentiment: Paramount reportedly offered concessions to the European Commission, including plans to exit UIP, in an effort to secure EU approval for the Warner merger. That could improve the odds the transaction eventually clears antitrust review. Paramount Skydance Offers Concessions to Facilitate EU Approval of $81 Billion Warner Bros Deal
• Positive Sentiment: Several reports say Paramount is actively submitting concessions to address European competition concerns, suggesting management is still pushing hard to keep the deal alive. Paramount Submits Concessions To Gain EU Approval For Warner Bros. Discovery Deal
• Neutral Sentiment: Paramount Skydance said it has gained key global merger approvals, which is constructive for the transaction overall, but the remaining UK and EU hurdles still make the path to closing uncertain. Paramount Skydance Gains Key Global Merger Approvals
• Negative Sentiment: The UK government said it is “minded to intervene” in the proposed Paramount-Warner merger, citing media plurality and news-sector concentration concerns, raising the risk of a prolonged review. UK government says it’s likely to challenge $110 billion Paramount-Warner Bros. merger
• Negative Sentiment: Additional reports from UK media outlets echo that regulators may intervene, reinforcing fears that the deal could face major political and antitrust obstacles. UK ‘minded’ to intervene in Paramount’s $110bn takeover of Warner Bros Discovery

Analysts Set New Price Targets

Several analysts recently commented on the stock. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 8th. Huber Research raised shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" 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. Zacks Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Finally, Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They set an "equal weight" rating and a $31.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $27.04.

About Warner Bros. Discovery

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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