Warner Bros. Discovery, Inc. $WBD Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC cut its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 583,318 shares of the company’s stock after selling 10,970 shares during the quarter. MetLife Investment Management LLC’s holdings in Warner Bros. Discovery were worth $6,259,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBD. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery during the first quarter worth $27,000. North Capital Inc. acquired a new position in Warner Bros. Discovery during the first quarter worth $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery during the first quarter worth $29,000. Ameriflex Group Inc. acquired a new position in Warner Bros. Discovery during the fourth quarter worth $30,000. Finally, Golden State Wealth Management LLC raised its holdings in Warner Bros. Discovery by 448.0% during the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock worth $31,000 after purchasing an additional 2,352 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Huber Research raised Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a report on Monday, June 9th. KeyCorp cut their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 8th. UBS Group boosted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price target on Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Finally, Guggenheim reissued a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $13.14.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy bought 250,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the purchase, the director owned 874,000 shares of the company’s stock, valued at $9,526,600. This trade represents a 40.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $12.15 on Thursday. The firm has a market capitalization of $30.08 billion, a P/E ratio of 40.50, a PEG ratio of 1.57 and a beta of 1.57. The stock has a fifty day moving average price of $11.94 and a 200 day moving average price of $10.46. Warner Bros. Discovery, Inc. has a 52 week low of $6.78 and a 52 week high of $13.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.07) earnings per share. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.