First Hawaiian Bank Trims Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

First Hawaiian Bank trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 55,117 shares of the company’s stock after selling 17,132 shares during the period. First Hawaiian Bank’s holdings in Warner Bros. Discovery were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WBD. Bridgeworth LLC grew its stake in Warner Bros. Discovery by 7.4% in the fourth quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock worth $158,000 after purchasing an additional 952 shares in the last quarter. Czech National Bank grew its position in shares of Warner Bros. Discovery by 0.3% during the 4th quarter. Czech National Bank now owns 388,660 shares of the company’s stock worth $4,423,000 after buying an additional 996 shares in the last quarter. Harbour Capital Advisors LLC increased its stake in shares of Warner Bros. Discovery by 1.8% during the fourth quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock valued at $642,000 after buying an additional 1,025 shares during the period. Blue Trust Inc. raised its holdings in shares of Warner Bros. Discovery by 20.8% in the fourth quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock valued at $68,000 after acquiring an additional 1,076 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in Warner Bros. Discovery by 56.3% in the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 2.0 %

Shares of NASDAQ:WBD opened at $7.18 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery, Inc. has a 52-week low of $6.94 and a 52-week high of $14.76. The stock has a market cap of $17.59 billion, a price-to-earnings ratio of -5.79 and a beta of 1.53. The business has a 50-day moving average price of $7.95 and a 200-day moving average price of $9.24.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities analysts predict that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

WBD has been the subject of several recent research reports. Sanford C. Bernstein reduced their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. cut their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Barrington Research reissued an “outperform” rating and set a $15.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Finally, Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.16.

Warner Bros. Discovery Company 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.