Massachusetts Financial Services Co. MA Sells 20,236 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Massachusetts Financial Services Co. MA trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,580,051 shares of the company’s stock after selling 20,236 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Warner Bros. Discovery were worth $27,271,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 3.1% in 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. Coronation Fund Managers Ltd. boosted its stake in Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after purchasing an additional 1,981,050 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $168,000. Natixis Advisors LLC increased its stake in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock valued at $3,076,000 after buying an additional 10,024 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $362,210,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

WBD opened at $8.07 on Monday. The company has a fifty day simple moving average of $10.50 and a 200 day simple moving average of $9.77. 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 stock 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. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). 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 $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

WBD has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group increased their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.96.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

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.