Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 583,609 shares of the company’s stock after selling 14,674 shares during the quarter. MetLife Investment Management LLC’s holdings in Warner Bros. Discovery were worth $4,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Warner Bros. Discovery by 107.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 466,104 shares of the company’s stock valued at $3,845,000 after purchasing an additional 241,150 shares during the period. Blueshift Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at $588,000. Townsquare Capital LLC grew its stake in shares of Warner Bros. Discovery by 47.9% during the 3rd quarter. Townsquare Capital LLC now owns 27,134 shares of the company’s stock valued at $224,000 after buying an additional 8,784 shares during the period. Avestar Capital LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth $108,000. Finally, Brooklyn Investment Group purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $10.48 on Monday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $25.71 billion, a P/E ratio of -2.29 and a beta of 1.48. The stock has a 50 day moving average of $8.54 and a 200-day moving average of $8.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analysts Set New Price Targets

WBD has been the subject of several research analyst reports. Barclays upped their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Rosenblatt Securities reissued a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Raymond James lifted their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. TD Cowen dropped their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.55.

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.