Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Warner Bros. Discovery, Inc. $WBD

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.1% in the second quarter, HoldingsChannel.com reports. The fund owned 1,549,950 shares of the company’s stock after buying an additional 215,392 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Warner Bros. Discovery were worth $41,322,000 at the end of the most recent reporting period.

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

Warner Bros. Discovery Trading Up 0.4%

Shares of Warner Bros. Discovery stock opened at $27.75 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $11.25 and a fifty-two week high of $30.00. The firm has a market cap of $69.57 billion, a PE ratio of -21.85 and a beta of 1.55. The business’s fifty day moving average is $26.50 and its two-hundred day moving average is $27.16. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.20. The business had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The business’s revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. Analysts anticipate that Warner Bros. Discovery, Inc. will post -1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Warner Bros. Discovery in a research report on Tuesday, August 4th. Zacks Research cut Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Freedom Capital raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Monday. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.69.

Insider Activity

In other news, Director Kenneth W. Lowe sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the completion of the transaction, the director owned 990,108 shares of the company’s stock, valued at $26,703,212.76. This represents a 10.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gerhard Zeiler sold 591,038 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.05, for a total transaction of $15,987,577.90. Following the transaction, the insider owned 537,436 shares in the company, valued at approximately $14,537,643.80. The trade was a 52.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.70% of the company’s stock.

Key Warner Bros. Discovery News

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

• Positive Sentiment: Freedom Capital upgraded WBD from “hold” to “strong buy,” adding a bullish catalyst. The firm’s upgrade follows WBD’s recent earnings beat, although the company’s revenue declined year over year. Zacks.com
• Positive Sentiment: Paramount Skydance reportedly said that selling CNN is under consideration as a potential way to resolve California’s antitrust lawsuit against the proposed Paramount-WBD merger. A compromise could improve the deal’s odds of closing, though it would reduce some of its strategic benefits. Paramount says CNN sale is on the table
• Neutral Sentiment: Attorneys for the parties have outlined discovery and other deadlines for the pending antitrust trial, while industry groups including the DGA and IATSE are urging a faster resolution. The process provides a clearer timeline but indicates that merger uncertainty could persist into 2027. Paramount-WBD antitrust trial schedule
• Neutral Sentiment: WBD unveiled new incubator productions for Food Network and discovery+, offering additional content for its television and streaming businesses. The announcement is strategically supportive but is unlikely to materially change near-term valuation. WBD incubator productions
• Negative Sentiment: Large insider sales are weighing on sentiment. CEO David Zaslav reportedly sold approximately $21.7 million of WBD stock, while Director Gerhard Zeiler sold about $16.0 million and Director Kenneth Lowe sold roughly $3.2 million. The filings do not establish the reasons for the sales, but their size may concern investors. David Zaslav stock sale
• Negative Sentiment: Political and regulatory scrutiny remains intense, and Paramount’s threat to leave California highlights the difficulty of reaching a settlement. If the merger is delayed, blocked or materially altered, WBD shareholders could lose a major potential source of value. Political scrutiny of the Paramount-WBD deal

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.