Engineers Gate Manager LP Purchases New Position in Warner Bros. Discovery, Inc. $WBD

Engineers Gate Manager LP purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 694,656 shares of the company’s stock, valued at approximately $20,020,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WBD. Brighton Jones LLC lifted 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 acquiring an additional 51,920 shares during the last quarter. NewEdge Advisors LLC lifted its position in Warner Bros. Discovery by 50.5% in the first 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 lifted its position in Warner Bros. Discovery by 6.2% in the first 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 lifted its position in Warner Bros. Discovery by 91.6% in the first 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. lifted its position in Warner Bros. Discovery by 3.8% in the second 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 owned by hedge funds and other institutional investors.

More Warner Bros. Discovery News

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

• Positive Sentiment: Chinese regulators reportedly cleared the Paramount Skydance-Warner Bros. Discovery merger, removing another hurdle for the deal and boosting the odds that WBD shareholders receive the agreed cash value. Chinese regulators clear Paramount Skydance-Warner Bros Discovery merger, source says
• Positive Sentiment: Multiple reports say the DOJ has already approved the merger, which lowers regulatory risk and strengthens the merger-arbitrage case for WBD. Paramount Skydance wins DOJ approval for Warner Bros. Discovery merger
• Positive Sentiment: Market commentary highlights the deal as a major catalyst, noting WBD still trades below the $31 cash buyout price, leaving a potential merger-arbitrage spread for investors. Plot Twist: How the $110B Paramount-Warner Deal Rewrites Media
• Neutral Sentiment: Sector articles discussing APAC growth, local content, and broader streaming competition provide background on the media landscape, but do not appear to be a direct stock-moving catalyst for WBD today. Netflix, Prime Video, Disney and WBD on Local Content and APAC Growth
• Negative Sentiment: The stock also weakened in the latest session, with coverage pointing to WBD falling more than the broader market, reflecting ongoing investor caution despite the merger news. Here’s Why Warner Bros. Discovery (WBD) Fell More Than Broader Market

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $26.24 on Thursday. The company has a 50-day simple moving average of $27.07 and a 200-day simple moving average of $27.62. Warner Bros. Discovery, Inc. has a one year low of $10.27 and a one year high of $30.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $65.79 billion, a price-to-earnings ratio of -37.49 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results 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 period in the previous year, the company posted ($0.18) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts predict that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WBD shares. Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Weiss Ratings cut shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Raymond James Financial reissued an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Finally, TD Cowen upped their target price on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.04.

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.