Warner Bros. Discovery, Inc. $WBD Shares Sold by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 77.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 990,615 shares of the company’s stock after selling 3,350,243 shares during the quarter. Sound Shore Management Inc. CT’s holdings in Warner Bros. Discovery were worth $28,550,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after buying an additional 51,920 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 50.5% during the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after acquiring an additional 21,228 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Warner Bros. Discovery by 6.2% during the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock worth $698,000 after acquiring an additional 3,779 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Warner Bros. Discovery by 91.6% during the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock worth $1,254,000 after buying an additional 55,837 shares during the period. Finally, Baird Financial Group Inc. raised its stake in shares of Warner Bros. Discovery by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock worth $1,277,000 after buying an additional 4,062 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity

In other news, Director Fazal F. Merchant sold 35,000 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the sale, the director directly owned 95,539 shares of the company’s stock, valued at approximately $2,625,411.72. The trade was a 26.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares of the company’s stock, valued at $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 676,784 shares of company stock valued at $18,534,231. Insiders own 1.90% of the company’s stock.

Key Headlines Impacting Warner Bros. Discovery

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

• Positive Sentiment: Warner Bros. Discovery was upgraded by Zacks Research from “strong sell” to “hold”, signaling that bearish sentiment is easing and giving investors a less negative view of the stock. Tickerreport.com
• Positive Sentiment: Multiple reports said Paramount Skydance is actively seeking EU approval for its acquisition of Warner Bros. Discovery, keeping the deal narrative alive and supporting speculation that WBD could command a strategic premium. MSN
• Positive Sentiment: The European Commission is reportedly aiming to finish its merger review in July, which could move the deal process forward and reduce uncertainty around timing. MSN
• Neutral Sentiment: Commentary arguing that media stocks under $30 remain a contrarian value idea adds a supportive valuation narrative, but it is more of a market opinion than a company-specific catalyst. 247WallSt
• Neutral Sentiment: Reports of executives pushing back against merger critics mainly underscore that regulatory and public-relations controversy around the deal is still ongoing, without changing fundamentals by themselves. TheWrap
• Negative Sentiment: The merger still needs approval from regulators around the world, so any setback or delay could pressure the stock if investors begin to doubt the deal’s likelihood or timeline. Business Insider

Analysts Set New Price Targets

A number of analysts have recently issued reports on WBD shares. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Rothschild & Co Redburn set a $31.00 price target on Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Raymond James Financial reiterated an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Price Performance

WBD stock opened at $27.00 on Thursday. Warner Bros. Discovery, Inc. has a 1 year low of $9.11 and a 1 year high of $30.00. The firm has a market capitalization of $67.69 billion, a P/E ratio of -38.57 and a beta of 1.54. 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 business’s 50-day moving average is $27.20 and its two-hundred day moving average is $27.38.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) 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 business had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the previous year, the company posted ($0.18) EPS. The company’s revenue was down 1.0% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery, Inc. will post -0.93 earnings per share for the current fiscal year.

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.