The Manufacturers Life Insurance Company Sells 47,742 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

The Manufacturers Life Insurance Company cut its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,883,054 shares of the company’s stock after selling 47,742 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.89% of Warner Bros. Discovery worth $180,535,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in Warner Bros. Discovery during the 2nd quarter valued at about $26,000. OFI Invest Asset Management lifted its holdings in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares during the period. Bank & Trust Co purchased a new stake in Warner Bros. Discovery in the 2nd quarter worth approximately $39,000. LRI Investments LLC purchased a new stake in Warner Bros. Discovery in the 1st quarter worth approximately $39,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Warner Bros. Discovery in the 3rd quarter worth approximately $41,000. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Moffett Nathanson decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Evercore ISI reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company reduced their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Raymond James raised their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Monday, October 7th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Down 2.8 %

Warner Bros. Discovery stock opened at $10.11 on Wednesday. The business has a fifty day moving average of $8.38 and a two-hundred day moving average of $7.97. 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 firm has a market cap of $24.80 billion, a P/E ratio of -2.21 and a beta of 1.48. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results 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 company had revenue of $9.62 billion during 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%. Warner Bros. Discovery’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

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.