Natixis Advisors LLC Sells 115,197 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Natixis Advisors LLC lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 33.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,931 shares of the company’s stock after selling 115,197 shares during the quarter. Natixis Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,703,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WBD. The Manufacturers Life Insurance Company boosted its position in Warner Bros. Discovery by 17.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after buying an additional 3,710,343 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after acquiring an additional 2,621,582 shares in the last quarter. Norges Bank purchased a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $198,916,000. Bank of New York Mellon Corp lifted its stake in shares of Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after purchasing an additional 719,869 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in Warner Bros. Discovery by 1.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock valued at $96,784,000 after purchasing an additional 123,693 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 3.8 %

Shares of WBD opened at $7.02 on Wednesday. The stock has a 50 day moving average price of $7.73 and a 200 day moving average price of $8.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of -5.66 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.51) earnings per share. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WBD has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Macquarie dropped their target price on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group decreased their price objective on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped 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 research report on Thursday, August 8th. Finally, Benchmark cut their price objective on Warner Bros. Discovery from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price of $10.98.

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.