MassMutual Private Wealth & Trust FSB Sells 100,726 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

MassMutual Private Wealth & Trust FSB reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 88.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,997 shares of the company's stock after selling 100,726 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Warner Bros. Discovery were worth $139,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. 111 Capital bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $193,000. Wealth Enhancement Advisory Services LLC lifted its position in Warner Bros. Discovery by 10.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 200,627 shares of the company's stock valued at $2,121,000 after purchasing an additional 18,552 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $14,547,000. Polar Asset Management Partners Inc. bought a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $3,022,000. Finally, Ameriflex Group Inc. bought a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $30,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Down 1.4%

Warner Bros. Discovery stock traded down $0.14 during mid-day trading on Thursday, reaching $9.65. 44,327,727 shares of the company traded hands, compared to its average volume of 33,654,808. 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 52-week low of $6.64 and a 52-week high of $12.70. The firm has a market capitalization of $23.69 billion, a price-to-earnings ratio of -2.11, a P/E/G ratio of 8.64 and a beta of 1.46. The firm's 50 day moving average price is $8.87 and its 200 day moving average price is $9.94.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter last year, the company posted ($0.40) earnings per share. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WBD shares. KeyCorp dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Benchmark reiterated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Raymond James lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Finally, Barclays boosted their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.17.

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.