Massachusetts Financial Services Co. MA Has $19.48 Million Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Massachusetts Financial Services Co. MA reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,618,347 shares of the company’s stock after selling 114,427 shares during the period. Massachusetts Financial Services Co. MA owned about 0.11% of Warner Bros. Discovery worth $19,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WBD. The Manufacturers Life Insurance Company increased its holdings in Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after buying an additional 3,710,343 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of Warner Bros. Discovery by 14.6% during the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Warner Bros. Discovery by 1.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock valued at $96,784,000 after purchasing an additional 123,693 shares during the last quarter. Finally, Yacktman Asset Management LP boosted its holdings in Warner Bros. Discovery by 1.2% in the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after purchasing an additional 100,565 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $8.24 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market capitalization of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.48. The stock has a 50 day moving average of $7.86 and a two-hundred day moving average of $7.98. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the business earned ($0.51) earnings per share. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Wall Street Analysts Forecast Growth

WBD has been the topic of several recent research reports. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft reduced their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Evercore ISI reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Barclays decreased their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Company Profile

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.