1,017,144 Shares in Warner Bros. Discovery, Inc. $WBD Purchased by Sand Grove Capital Management LLP

Sand Grove Capital Management LLP acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,017,144 shares of the company’s stock, valued at approximately $29,314,000. Warner Bros. Discovery comprises 9.9% of Sand Grove Capital Management LLP’s investment portfolio, making the stock its 2nd biggest holding.

A number of other large investors have also modified their holdings of WBD. Norges Bank acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $1,123,807,000. Vanguard Group Inc. increased its holdings in shares of Warner Bros. Discovery by 7.1% in the 3rd quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock worth $5,492,112,000 after acquiring an additional 18,736,600 shares during the period. Jericho Capital Asset Management L.P. increased its holdings in shares of Warner Bros. Discovery by 108.9% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock worth $685,413,000 after acquiring an additional 18,291,865 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth about $74,916,000. Finally, Amundi increased its holdings in shares of Warner Bros. Discovery by 59.6% in the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after acquiring an additional 5,798,592 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on WBD shares. Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Benchmark reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Weiss Ratings cut shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Stock Down 0.9%

Warner Bros. Discovery stock opened at $26.60 on Wednesday. The stock has a market cap of $66.69 billion, a price-to-earnings ratio of -38.00 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. The company’s 50-day moving average price is $27.09 and its two-hundred day moving average price is $27.60. Warner Bros. Discovery, Inc. has a 52 week low of $10.27 and a 52 week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last released its 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 company had revenue of $8.89 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) EPS. On average, analysts expect that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

About Warner Bros. Discovery

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.