Massachusetts Financial Services Co. MA Sells 18,060 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,600,287 shares of the company’s stock after selling 18,060 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.11% of Warner Bros. Discovery worth $21,452,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Intech Investment Management LLC lifted its holdings in shares of Warner Bros. Discovery by 40.3% in the 3rd quarter. Intech Investment Management LLC now owns 118,531 shares of the company’s stock worth $978,000 after purchasing an additional 34,050 shares in the last quarter. Commerce Bank lifted its holdings in shares of Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after purchasing an additional 1,286 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at $148,000. PNC Financial Services Group Inc. raised its position in Warner Bros. Discovery by 25.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 515,077 shares of the company’s stock valued at $4,249,000 after buying an additional 105,670 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at $1,695,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 2.9 %

Shares of NASDAQ WBD opened at $10.40 on Tuesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business has a 50-day simple moving average of $8.34 and a two-hundred day simple moving average of $7.95. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $25.51 billion, a P/E ratio of -2.27 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Macquarie increased their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Monday, October 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy 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 $10.55.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.