Hanseatic Management Services Inc. acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 55,296 shares of the company’s stock, valued at approximately $1,518,000. Warner Bros. Discovery accounts for 1.5% of Hanseatic Management Services Inc.’s portfolio, making the stock its 24th largest position.
Several other institutional investors have also added to or reduced their stakes in WBD. Swiss RE Ltd. acquired a new position in Warner Bros. Discovery in the 4th quarter worth $26,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $29,000. MV Capital Management Inc. bought a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $30,000. Rakuten Securities Inc. lifted 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 purchasing an additional 521 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Warner Bros. Discovery during the third quarter worth about $33,000. 59.95% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on WBD shares. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings cut Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Seaport Research Partners raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Monday, June 29th. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Finally, Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently 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: A federal judge will rule by July 22 on California’s request to temporarily freeze Paramount’s $111 billion takeover of Warner Bros. Discovery, increasing the risk of a near-term delay to the deal. Judge delays ruling on California’s bid to freeze Paramount’s $111B takeover of Warner Bros. Discovery
- Negative Sentiment: California and 11 other Democratic state attorneys general are pushing an antitrust case to pause the merger, and media reports suggest Warner Bros. Discovery and Paramount may have to delay closing while the legal fight plays out. Warner Bros. Discovery (WBD) Faces State Lawsuit Over $110 Billion Merger Pause
- Neutral Sentiment: Paramount has publicly argued the states’ antitrust case is unusually weak, but that defense does not remove the immediate legal uncertainty around the transaction. Paramount Calls the States’ Antitrust Case Against Warner Bros. Merger ‘One of the Weakest’ in Modern History
- Neutral Sentiment: Several shareholder lawsuits and related responses have added more headlines, but these appear secondary to the main issue: whether regulators or the court will block or delay the deal. Paramount and Warner Bros expect a delay in closing the deal
Warner Bros. Discovery Trading Down 1.5%
Warner Bros. Discovery stock opened at $26.87 on Friday. The company has a market cap of $67.37 billion, a price-to-earnings ratio of -38.39 and a beta of 1.54. The firm has a 50-day moving average of $26.85 and a 200-day moving average of $27.49. 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, Inc. has a one year low of $10.76 and a one 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) 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 prior year, the firm posted ($0.18) EPS. Warner Bros. Discovery’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -1.07 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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