Sterling Capital Management LLC Trims Stock Position in Warner Bros. Discovery, Inc. $WBD

Sterling Capital Management LLC cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 43.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,697 shares of the company’s stock after selling 59,639 shares during the period. Sterling Capital Management LLC’s holdings in Warner Bros. Discovery were worth $2,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Venturi Wealth Management LLC grew its holdings in shares of Warner Bros. Discovery by 4.5% during the 1st quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock worth $232,000 after purchasing an additional 367 shares during the period. Pinnacle Wealth Management Advisory Group LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at about $249,000. VCI Wealth Management LLC purchased a new position in Warner Bros. Discovery during the first quarter worth about $516,000. Cannon Global Investment Management LLC boosted its stake in Warner Bros. Discovery by 260.7% during the first quarter. Cannon Global Investment Management LLC now owns 22,500 shares of the company’s stock worth $618,000 after buying an additional 36,500 shares during the period. Finally, GHP Investment Advisors Inc. increased its position in shares of Warner Bros. Discovery by 57.9% during the first quarter. GHP Investment Advisors Inc. now owns 1,971 shares of the company’s stock valued at $54,000 after acquiring an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Key Stories Impacting 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 Price Performance

Warner Bros. Discovery stock opened at $26.74 on Monday. The stock has a 50-day simple moving average of $26.98 and a 200-day simple moving average of $27.71. The company has a market capitalization of $67.04 billion, a P/E ratio of -38.20 and a beta of 1.54. 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 fifty-two week low of $10.76 and a fifty-two week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm earned ($0.18) EPS. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research analyst reports. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. 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. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. UBS Group boosted their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.