State Street Corp Sells 27,262,597 Shares of Warner Bros. Discovery, Inc. $WBD

State Street Corp lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,066,834 shares of the company’s stock after selling 27,262,597 shares during the period. State Street Corp owned approximately 0.05% of Warner Bros. Discovery worth $3,777,346,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. JFS Wealth Advisors LLC raised its position in Warner Bros. Discovery by 12.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock valued at $99,000 after buying an additional 378 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Warner Bros. Discovery by 20.2% in the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after purchasing an additional 419 shares in the last quarter. CYBER HORNET ETFs LLC grew its stake in Warner Bros. Discovery by 7.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock valued at $184,000 after purchasing an additional 425 shares in the last quarter. Root Financial Partners LLC grew its stake in Warner Bros. Discovery by 17.5% in the fourth quarter. Root Financial Partners LLC now owns 2,879 shares of the company’s stock valued at $83,000 after purchasing an additional 429 shares in the last quarter. Finally, Optas LLC grew its stake in Warner Bros. Discovery by 3.0% in the fourth quarter. Optas LLC now owns 15,120 shares of the company’s stock valued at $436,000 after purchasing an additional 435 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $26.98 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $9.98 and a twelve month high of $30.00. The firm’s fifty day simple moving average is $27.12 and its 200-day simple moving average is $27.53. The firm has a market capitalization of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.54. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.

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). The business had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.18) earnings per share. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WBD shares. TD Cowen raised their price target on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Sanford C. Bernstein raised their price target on Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research note on Tuesday, February 24th. Finally, Rothschild & Co Redburn set a $31.00 target price on shares of Warner Bros. Discovery and gave the company a “neutral” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.04.

Insider Activity at Warner Bros. Discovery

In other news, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.48, for a total value of $961,800.00. Following the transaction, the director owned 95,539 shares of the company’s stock, valued at $2,625,411.72. The trade was a 26.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the transaction, the director directly owned 244,357 shares in the company, valued at $6,683,163.95. This represents a 71.06% decrease in their position. The SEC filing for this sale provides additional information. 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: The DOJ reportedly cleared Paramount Skydance’s acquisition of Warner Bros. Discovery, removing a key antitrust obstacle and improving the chances the deal closes. Justice Department says Paramount’s Warner deal wouldn’t harm competition
• Positive Sentiment: Reports that the merger was approved helped fuel speculation that Warner Bros. Discovery shareholders could benefit from a takeover premium if the deal advances. Paramount-WBD merger wins approval from DOJ, source says
• Neutral Sentiment: Shareholders rejected David Zaslav’s proposed $165 million pay package for 2025 in a non-binding vote, which adds governance noise but is not likely to change the near-term merger story. Warner Bros. Shareholders Reject David Zaslav’s $165 Million Pay Package for 2025

Warner Bros. Discovery 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.