Principal Financial Group Inc. Grows Stake in Warner Bros. Discovery, Inc. $WBD

Principal Financial Group Inc. raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,839,154 shares of the company’s stock after purchasing an additional 91,082 shares during the period. Principal Financial Group Inc.’s holdings in Warner Bros. Discovery were worth $77,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Private Advisory Group LLC purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $3,438,000. Triad Investment Management bought a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $9,383,000. Mn Services Vermogensbeheer B.V. increased its holdings in Warner Bros. Discovery by 4.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company’s stock valued at $26,419,000 after buying an additional 38,105 shares during the period. Handelsbanken Fonder AB raised its stake in Warner Bros. Discovery by 130.8% in the fourth quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock worth $29,069,000 after buying an additional 571,612 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after buying an additional 51,920 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

More Warner Bros. Discovery News

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

• Positive Sentiment: FCC Chair David Carr said he believes the California-led antitrust challenge to the Paramount-WBD merger is unlikely to succeed, suggesting regulators may not stop the deal. FCC Chair David Carr calls states challenge to Paramount-WBD merger illegitimate
• Neutral Sentiment: Warner Bros. Discovery was highlighted as a trending stock and as potentially undervalued, reflecting continued investor interest beyond the merger headlines. Zacks article on WBD trending stock Warner Bros. Discovery stock has strong returns but still looks undervalued
• Negative Sentiment: Multiple reports say a coalition of 12 state attorneys general has sought a temporary restraining order to block the merger, raising the risk of a delay in closing and added legal costs. Paramount Calls the States’ Antitrust Case Against Warner Bros. Merger One of the Weakest in Modern History Warner Bros. Discovery Faces State Lawsuit Over $110 Billion Merger Pause Paramount, Warner Bros. bosses fear judge will block $110B deal in coming days
• Negative Sentiment: Additional lawsuits from a Paramount shareholder and the WGA accuse the deal of governance and antitrust issues, adding more uncertainty around approval timing and deal completion. Paramount calls shareholder suit recycled allegations WGA sues to block Paramount-Warner Bros. merger

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings cut Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Seaport Research Partners raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, June 29th. UBS Group increased their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.04.

Warner Bros. Discovery Stock Up 0.1%

Shares of WBD stock opened at $27.29 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $10.76 and a 1-year high of $30.00. The stock’s fifty day moving average price is $26.85 and its 200 day moving average price is $27.49. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $68.42 billion, a price-to-earnings ratio of -38.99 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its 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). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same period in the prior year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

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.