Dimensional Fund Advisors LP Sells 1,046,490 Shares of Warner Bros. Discovery, Inc. $WBD

Dimensional Fund Advisors LP lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 16,995,395 shares of the company’s stock after selling 1,046,490 shares during the period. Dimensional Fund Advisors LP’s holdings in Warner Bros. Discovery were worth $466,618,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Scarborough Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $161,000. Parallel Advisors LLC lifted its position in Warner Bros. Discovery by 18.4% during the 1st quarter. Parallel Advisors LLC now owns 23,028 shares of the company’s stock valued at $632,000 after acquiring an additional 3,577 shares during the period. Resolute Wealth Strategies LLC boosted its stake in Warner Bros. Discovery by 87.6% during the first quarter. Resolute Wealth Strategies LLC now owns 13,277 shares of the company’s stock worth $365,000 after acquiring an additional 6,200 shares in the last quarter. SEB Asset Management AB bought a new stake in Warner Bros. Discovery during the first quarter worth about $13,191,000. Finally, Swiss National Bank grew its holdings in Warner Bros. Discovery by 8.0% in the first quarter. Swiss National Bank now owns 6,959,827 shares of the company’s stock worth $191,117,000 after purchasing an additional 514,600 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WBD shares. UBS Group raised their target price on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $27.04.

Warner Bros. Discovery Stock Down 3.8%

Shares of Warner Bros. Discovery stock opened at $25.86 on Tuesday. Warner Bros. Discovery, Inc. has a twelve month low of $10.76 and a twelve month high of $30.00. 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 company’s 50 day moving average is $26.82 and its 200 day moving average is $27.46. The company has a market cap of $64.83 billion, a price-to-earnings ratio of -36.94 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm posted ($0.18) EPS. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

More Warner Bros. Discovery News

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

• Negative Sentiment: The proposed Paramount-WBD merger has been temporarily halted, removing an immediate takeover catalyst and increasing uncertainty around deal completion. Paramount and Warner Bros. merger hit with temporary restraining order
• Negative Sentiment: A coalition of state attorneys general is challenging the transaction on antitrust grounds, which could prolong the legal process or derail the acquisition altogether. Judge orders Paramount to temporarily pause Warner Bros acquisition
• Neutral Sentiment: Market coverage also noted WBD closed at its lowest level since Dec. 4, reflecting weaker investor sentiment as the merger timeline becomes less certain. Warner Bros. Closes at Lowest Since Dec. 4 | Closing Bell

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.