Patton Fund Management Inc. Sells 221,248 Shares of Warner Bros. Discovery, Inc. $WBD

Patton Fund Management Inc. trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 63.9% in the first quarter, Holdings Channel reports. The institutional investor owned 124,809 shares of the company’s stock after selling 221,248 shares during the quarter. Patton Fund Management Inc.’s holdings in Warner Bros. Discovery were worth $3,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Venturi Wealth Management LLC boosted its holdings in shares of Warner Bros. Discovery by 4.5% in the first quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock worth $232,000 after acquiring an additional 367 shares during the period. Krilogy Financial LLC raised its stake in shares of Warner Bros. Discovery by 2.6% during the 1st quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock valued at $406,000 after purchasing an additional 369 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of Warner Bros. Discovery by 12.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock valued at $99,000 after purchasing an additional 378 shares during the period. William B. Walkup & Associates Inc. lifted its holdings in Warner Bros. Discovery by 5.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 7,837 shares of the company’s stock worth $215,000 after purchasing an additional 414 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its holdings in Warner Bros. Discovery by 20.2% during the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock worth $71,000 after purchasing an additional 419 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WBD shares. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” 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 note on Sunday, March 8th. Finally, UBS Group upped their target price on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating 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, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $26.74 on Monday. The firm 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 quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The stock’s 50-day simple moving average is $26.98 and its two-hundred day simple moving average is $27.71. Warner Bros. Discovery, Inc. has a twelve month low of $10.76 and a twelve month high of $30.00.

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 analysts’ consensus estimates 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 the consensus estimate of $8.89 billion. During the same quarter last year, the business posted ($0.18) EPS. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Key Headlines 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 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.