Sand Grove Capital Management LLP Acquires Shares of 1,017,144 Warner Bros. Discovery, Inc. $WBD

Sand Grove Capital Management LLP acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,017,144 shares of the company’s stock, valued at approximately $29,314,000. Warner Bros. Discovery comprises about 9.9% of Sand Grove Capital Management LLP’s portfolio, making the stock its 2nd biggest holding.

A number of other large investors have also recently added to or reduced their stakes in WBD. Brighton Jones LLC boosted its stake in Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after acquiring an additional 51,920 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Warner Bros. Discovery by 50.5% during the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock valued at $679,000 after acquiring an additional 21,228 shares during the last quarter. Empowered Funds LLC boosted its stake in Warner Bros. Discovery by 6.2% during the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after acquiring an additional 3,779 shares during the last quarter. Focus Partners Wealth boosted its stake in Warner Bros. Discovery by 91.6% during the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after acquiring an additional 55,837 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Warner Bros. Discovery by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock valued at $1,277,000 after acquiring an additional 4,062 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Down 0.9%

Warner Bros. Discovery stock opened at $26.60 on Wednesday. The firm’s 50-day moving average is $27.09 and its 200-day moving average is $27.60. 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 1 year low of $10.27 and a 1 year high of $30.00. The company has a market cap of $66.69 billion, a P/E ratio of -38.00 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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 return on equity of 4.77% and a negative net margin of 4.67%.The business had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the previous year, the business posted ($0.18) earnings per share. The company’s quarterly 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 year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WBD shares. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. 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 price objective on the stock. TD Cowen increased their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently 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.