J. Safra Sarasin Holding AG Sells 26,494 Shares of Warner Bros. Discovery, Inc. $WBD

J. Safra Sarasin Holding AG cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 66.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,301 shares of the company’s stock after selling 26,494 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Warner Bros. Discovery were worth $365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss RE Ltd. bought a new position in Warner Bros. Discovery in the 4th quarter worth about $26,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $29,000. MV Capital Management Inc. acquired a new position in shares of Warner Bros. Discovery during the fourth quarter worth $30,000. Rakuten Securities Inc. increased its position in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after buying an additional 521 shares in the last quarter. Finally, TOWER TRUST & INVESTMENT Co raised its position in shares of Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock valued at $36,000 after purchasing an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 0.8%

Shares of WBD stock opened at $27.26 on Thursday. 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 $68.34 billion, a price-to-earnings ratio of -38.94 and a beta of 1.54. The stock has a 50 day simple moving average of $26.85 and a 200-day simple moving average of $27.50. Warner Bros. Discovery, Inc. has a 1-year low of $10.76 and a 1-year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last released 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). The company had revenue of $8.89 billion during 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%. Warner Bros. Discovery’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) EPS. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Key Warner Bros. Discovery News

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

• Negative Sentiment: 12 Democratic-led states have filed an antitrust lawsuit to block the Paramount-WBD deal, arguing it would reduce competition, hurt theaters, and potentially raise consumer prices. Plot Twist: 12 States Could Stall the Paramount-Warner Bros. Discovery Mega-Merger
• Negative Sentiment: The Writers Guild of America also sued to stop the merger, adding another legal hurdle and increasing the odds of a drawn-out court fight. Hollywood Writers Sue to Block Paramount-Warner Deal
• Neutral Sentiment: Paramount’s lawyers say they still expect the deal to close on schedule, so some investors may be viewing the lawsuits as a delay rather than a full cancellation. Paramount still plans to close WBD merger by end of September despite lawsuit
• Negative Sentiment: Warner Bros. Discovery CEO David Zaslav sold about $59 million of WBD stock, which may weigh on sentiment even though the sale was reportedly pre-planned. David Zaslav sells $59 million in Warner Bros. Discovery stock
• Neutral Sentiment: Brokerages continue to rate WBD around “Hold,” suggesting analysts are waiting for more clarity on the merger and legal outcome before turning more constructive.

Analyst Ratings Changes

A number of equities research analysts recently commented on WBD shares. Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. 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. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Finally, Seaport Research Partners upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Monday, June 29th. One 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.04.

Warner Bros. Discovery 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.