Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Position Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,580,051 shares of the company’s stock after selling 20,236 shares during the period. Massachusetts Financial Services Co. MA owned 0.11% of Warner Bros. Discovery worth $27,271,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. increased its holdings in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $28,000. Ethos Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $29,000. Finally, Briaud Financial Planning Inc boosted its holdings in shares of Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $8.07 on Monday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. 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 $19.81 billion, a P/E ratio of -1.76, a P/E/G ratio of 8.64 and a beta of 1.43. The business’s 50 day moving average is $10.50 and its two-hundred day moving average is $9.77.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WBD shares. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Citigroup upped their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Finally, Barclays increased their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $11.96.

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.