Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,609 shares of the company’s stock after selling 14,674 shares during the quarter. MetLife Investment Management LLC’s holdings in Warner Bros. Discovery were worth $4,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WBD. Sessa Capital IM L.P. increased its holdings in shares of Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after acquiring an additional 5,625,545 shares during the period. Retirement Systems of Alabama increased its stake in Warner Bros. Discovery by 781.3% in the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares during the last quarter. Drexel Morgan & Co. boosted its stake in shares of Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after buying an additional 2,000,000 shares during the period. Finally, Clifford Capital Partners LLC purchased a new position in shares of Warner Bros. Discovery during the second quarter worth about $14,760,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WBD. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Evercore ISI lowered their target price on shares of 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 cut their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. cut their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $10.48 on Monday. The company has a 50-day moving average of $8.54 and a two-hundred day moving average of $8.03. The stock has a market cap of $25.71 billion, a P/E ratio of -2.29 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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%. Warner Bros. Discovery’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

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.