Mn Services Vermogensbeheer B.V. Sells 65,100 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.2% during the 1st quarter, Holdings Channel reports. The firm owned 842,500 shares of the company’s stock after selling 65,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Warner Bros. Discovery were worth $9,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock worth $2,670,519,000 after acquiring an additional 1,658,415 shares during the period. Geode Capital Management LLC increased its position in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock worth $605,633,000 after purchasing an additional 1,991,441 shares during the period. Norges Bank acquired a new position in Warner Bros. Discovery in the fourth quarter valued at about $362,210,000. Slate Path Capital LP lifted its position in Warner Bros. Discovery by 36.6% during 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 lifted its position in Warner Bros. Discovery by 7.9% during 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. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 7.3%

WBD opened at $10.76 on Tuesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $26.41 billion, a price-to-earnings ratio of -2.35, a PEG ratio of 8.64 and a beta of 1.51. The company’s 50 day moving average price is $9.05 and its two-hundred day moving average price is $9.94.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the firm earned ($0.40) earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WBD. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Argus upgraded Warner Bros. Discovery to a “hold” rating in a research note on Tuesday, May 27th. Barrington Research reiterated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Monday, June 9th. Barclays upped their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently 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.