Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,883,054 shares of the company’s stock after selling 47,742 shares during the period. The Manufacturers Life Insurance Company’s holdings in Warner Bros. Discovery were worth $180,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Private Management Group Inc. boosted its stake in shares of Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 22.7% during the 3rd quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after acquiring an additional 52,051 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after acquiring an additional 2,780,986 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Warner Bros. Discovery by 629.4% during the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after acquiring an additional 163,295 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Raymond James upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Evercore ISI lowered their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Down 2.8 %

Shares of NASDAQ WBD opened at $10.11 on Wednesday. The company has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $7.97. The company has a market capitalization of $24.80 billion, a P/E ratio of -2.21 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

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

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.