Massachusetts Financial Services Co. MA Sells 18,060 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,600,287 shares of the company’s stock after selling 18,060 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Warner Bros. Discovery were worth $21,452,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Sessa Capital IM L.P. boosted its position in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after acquiring an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Warner Bros. Discovery by 1.1% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after acquiring an additional 235,192 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after acquiring an additional 719,869 shares during the last quarter. Yacktman Asset Management LP boosted its position in shares of Warner Bros. Discovery by 1.2% during the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after acquiring an additional 100,565 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of Warner Bros. Discovery by 23.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after buying an additional 1,452,913 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WBD shares. Evercore ISI decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barrington Research reissued an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Rosenblatt Securities reissued a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $10.40 on Tuesday. The firm has a market cap of $25.51 billion, a P/E ratio of -2.27 and a beta of 1.48. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The business’s 50 day moving average price is $8.34 and its 200-day moving average price is $7.95. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned ($0.17) EPS. On average, equities research analysts anticipate 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.