The Manufacturers Life Insurance Company Has $33.69 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

The Manufacturers Life Insurance Company lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.4% during the first quarter, Holdings Channel reports. The firm owned 1,226,839 shares of the company’s stock after selling 206,442 shares during the period. The Manufacturers Life Insurance Company’s holdings in Warner Bros. Discovery were worth $33,689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss RE Ltd. bought a new position in Warner Bros. Discovery during the fourth quarter valued at about $26,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $29,000. MV Capital Management Inc. bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $30,000. Rakuten Securities Inc. increased its holdings in shares of Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after acquiring an additional 521 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 3.3%

NASDAQ WBD opened at $26.30 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $10.76 and a twelve month high of $30.00. The stock has a market cap of $65.94 billion, a PE ratio of -37.57 and a beta of 1.54. The firm has a 50-day simple moving average of $26.57 and a 200 day simple moving average of $27.29. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same period last year, the company earned ($0.18) EPS. The company’s revenue was down 1.0% on a year-over-year basis. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current year.

Analyst Ratings Changes

WBD has been the subject of several analyst reports. Seaport Research Partners lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a report on Monday, July 27th. Zacks Research downgraded Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. UBS Group increased their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.04.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.