Melqart Asset Management UK Ltd Makes New Investment in Warner Bros. Discovery, Inc. $WBD

Melqart Asset Management UK Ltd bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,564,169 shares of the company’s stock, valued at approximately $73,899,000. Warner Bros. Discovery comprises 7.3% of Melqart Asset Management UK Ltd’s portfolio, making the stock its biggest holding. Melqart Asset Management UK Ltd owned approximately 0.10% of Warner Bros. Discovery as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WBD. Norges Bank acquired a new position in Warner Bros. Discovery during the 4th quarter worth approximately $1,123,807,000. Vanguard Group Inc. boosted its position in Warner Bros. Discovery by 7.1% in the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock valued at $5,492,112,000 after buying an additional 18,736,600 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in Warner Bros. Discovery by 108.9% in the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after buying an additional 18,291,865 shares in the last quarter. Duquesne Family Office LLC bought a new stake in shares of Warner Bros. Discovery during the second quarter worth $74,916,000. Finally, Amundi grew its stake in shares of Warner Bros. Discovery by 59.6% during the third quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after buying an additional 5,798,592 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $26.60 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a 52 week low of $10.27 and a 52 week high of $30.00. The firm has a market cap of $66.69 billion, a PE ratio of -38.00 and a beta of 1.54. The firm’s fifty day moving average is $27.09 and its 200-day moving average is $27.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) earnings per share. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research reports. UBS Group increased their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Rothschild & Co Redburn set a $31.00 price objective on Warner Bros. Discovery and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Benchmark reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. TD Cowen increased their target price on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Finally, Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.