Warner Bros. Discovery, Inc. $WBD Shares Bought by Empyrean Capital Partners LP

Empyrean Capital Partners LP increased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,583,000 shares of the company’s stock after acquiring an additional 583,000 shares during the quarter. Warner Bros. Discovery comprises 2.3% of Empyrean Capital Partners LP’s investment portfolio, making the stock its 9th biggest position. Empyrean Capital Partners LP’s holdings in Warner Bros. Discovery were worth $70,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisory Group LLC bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $3,438,000. Triad Investment Management acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $9,383,000. Mn Services Vermogensbeheer B.V. increased its position in Warner Bros. Discovery by 4.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company’s stock worth $26,419,000 after buying an additional 38,105 shares during the period. Handelsbanken Fonder AB increased its position in Warner Bros. Discovery by 130.8% during the 4th 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 during the period. Finally, Brighton Jones LLC lifted its holdings in shares of Warner Bros. Discovery by 304.9% during 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. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $25.28 on Tuesday. The company has a market cap of $63.38 billion, a price-to-earnings ratio of -36.11 and a beta of 1.54. Warner Bros. Discovery, Inc. has a fifty-two week low of $10.76 and a fifty-two week high of $30.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a fifty day moving average price of $26.68 and a 200-day moving average price of $27.36.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly 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 firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.18) EPS. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WBD. Weiss Ratings cut shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. UBS Group lifted their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Seaport Research Partners lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $27.04.

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.