OLD National Bancorp IN Sells 25,587 Shares of Warner Bros. Discovery, Inc. $WBD

OLD National Bancorp IN cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 31.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,100 shares of the company’s stock after selling 25,587 shares during the quarter. OLD National Bancorp IN’s holdings in Warner Bros. Discovery were worth $1,541,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Warner Bros. Discovery during the fourth quarter worth $1,123,807,000. Jericho Capital Asset Management L.P. raised its position in shares of Warner Bros. Discovery by 108.9% in the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after purchasing an additional 18,291,865 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth about $74,916,000. Amundi lifted its stake in shares of Warner Bros. Discovery by 59.6% during the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after buying an additional 5,798,592 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth about $100,135,000. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WBD shares. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Weiss Ratings downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 target price on the stock. Argus dropped their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. One investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $26.74 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $10.76 and a 12-month high of $30.00. The company’s 50 day moving average price is $26.98 and its two-hundred day moving average price is $27.70. The firm has a market cap of $67.04 billion, a PE ratio of -38.20 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Trending Headlines about Warner Bros. Discovery

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

• Positive Sentiment: Shares rose on reports that EU regulators may be willing to approve a Paramount deal involving Warner Bros. Discovery, raising hopes that a merger could unlock value for WBD shareholders. Article Title
• Positive Sentiment: Warner Bros. Discovery’s DC strategy remains in focus after Warner Bros. Animation announced three new DC TV series, reinforcing the company’s ability to keep building its superhero content pipeline. Article Title
• Positive Sentiment: The company also teamed with AWS around the “Supergirl” release, extending DC’s reach and adding another marketing/engagement channel for the franchise. Article Title
• Neutral Sentiment: Coverage on Warner Bros. Discovery’s lifestyle merchandising strategy questioned whether it deepens the DC brand or risks diluting focus; this looks more like a strategic debate than a near-term financial catalyst. Article Title
• Neutral Sentiment: Forbes reported that Warner Bros. is likely to keep its existing PVOD release strategy for DC’s “Supergirl,” suggesting continuity rather than a major change to the film monetization approach. Article Title

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.