Mn Services Vermogensbeheer B.V. Reduces Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mn Services Vermogensbeheer B.V. lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 842,500 shares of the company's stock after selling 65,100 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Warner Bros. Discovery were worth $9,040,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares during the period. Geode Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after acquiring an additional 1,991,441 shares in the last quarter. Norges Bank bought a new position in Warner Bros. Discovery during the fourth quarter worth $362,210,000. Slate Path Capital LP grew its holdings in Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after purchasing an additional 6,381,000 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Warner Bros. Discovery by 7.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock worth $249,545,000 after purchasing an additional 1,725,775 shares during the period. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded down $0.06 during trading on Friday, reaching $10.52. The company's stock had a trading volume of 68,249,606 shares, compared to its average volume of 35,073,130. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a market cap of $25.81 billion, a price-to-earnings ratio of -2.40 and a beta of 1.51. The firm has a 50 day moving average of $9.16 and a 200-day moving average of $9.94. 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 posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The company had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the previous year, the company posted ($0.40) EPS. Warner Bros. Discovery's quarterly revenue was down 9.8% compared to the same quarter last year. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Morgan Stanley reduced their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Barclays boosted their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Citigroup lowered their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Wells Fargo & Company lifted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.17.

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.