Lombard Odier Asset Management Switzerland SA Reduces Stock Position in Warner Bros. Discovery, Inc. $WBD

Lombard Odier Asset Management Switzerland SA cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,651 shares of the company’s stock after selling 32,368 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Warner Bros. Discovery were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Warner Bros. Discovery in the fourth quarter valued at $1,123,807,000. Duquesne Family Office LLC bought a new position in Warner Bros. Discovery in the 2nd quarter worth $74,916,000. Amundi raised its holdings in Warner Bros. Discovery by 59.6% in the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after purchasing an additional 5,798,592 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth about $100,135,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Warner Bros. Discovery by 509.5% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,981,814 shares of the company’s stock worth $172,396,000 after purchasing an additional 5,000,437 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of several research analyst reports. Seaport Research Partners cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. UBS Group lifted their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Finally, Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $25.28 on Tuesday. The business has a fifty day moving average price of $26.68 and a 200-day moving average price of $27.36. 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 company has a market capitalization of $63.38 billion, a PE ratio of -36.11 and a beta of 1.54. 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) last announced 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 firm 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 firm earned ($0.18) EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -1.07 EPS 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.