Massachusetts Financial Services Co. MA Has $27.44 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Massachusetts Financial Services Co. MA reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,557,448 shares of the company's stock after selling 22,603 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.10% of Warner Bros. Discovery worth $27,441,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WBD. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Warner Bros. Discovery during the first quarter worth $361,000. Apollon Wealth Management LLC lifted its stake in Warner Bros. Discovery by 30.1% in the first quarter. Apollon Wealth Management LLC now owns 44,785 shares of the company's stock worth $481,000 after purchasing an additional 10,350 shares during the last quarter. Signaturefd LLC raised its stake in shares of Warner Bros. Discovery by 24.8% during the first quarter. Signaturefd LLC now owns 33,155 shares of the company's stock valued at $356,000 after acquiring an additional 6,586 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Warner Bros. Discovery by 44.3% in the first quarter. Bleakley Financial Group LLC now owns 22,509 shares of the company's stock worth $242,000 after purchasing an additional 6,915 shares during the last quarter. Finally, CWM LLC increased its holdings in Warner Bros. Discovery by 9.8% during the 1st quarter. CWM LLC now owns 74,248 shares of the company's stock valued at $797,000 after purchasing an additional 6,601 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Down 0.7%

Shares of NASDAQ:WBD traded down $0.09 during midday trading on Friday, hitting $12.75. 117,776,271 shares of the stock were exchanged, compared to its average volume of 38,269,848. The business's 50-day moving average price is $10.45 and its 200 day moving average price is $10.03. The stock has a market capitalization of $31.30 billion, a price-to-earnings ratio of -2.90 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $13.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The company had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. Warner Bros. Discovery's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.40) earnings per share. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barrington Research reissued an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Monday, June 9th. Bank of America upped their price target on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Wells Fargo & Company increased their price objective on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Citigroup decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery 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.