Hsbc Holdings PLC Sells 2,088,417 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hsbc Holdings PLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,797,174 shares of the company’s stock after selling 2,088,417 shares during the period. Hsbc Holdings PLC owned approximately 0.20% of Warner Bros. Discovery worth $35,739,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. D.A. Davidson & CO. lifted its stake in shares of Warner Bros. Discovery by 1.3% in the fourth quarter. D.A. Davidson & CO. now owns 263,403 shares of the company’s stock valued at $2,998,000 after buying an additional 3,438 shares in the last quarter. Advisory Services Network LLC lifted its position in Warner Bros. Discovery by 10.2% in the 4th quarter. Advisory Services Network LLC now owns 60,121 shares of the company’s stock valued at $684,000 after acquiring an additional 5,541 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Warner Bros. Discovery by 4.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 702,554 shares of the company’s stock valued at $7,995,000 after purchasing an additional 29,833 shares during the last quarter. Johnson Financial Group Inc. increased its holdings in Warner Bros. Discovery by 17,613.5% during the 4th quarter. Johnson Financial Group Inc. now owns 6,554 shares of the company’s stock worth $75,000 after purchasing an additional 6,517 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Warner Bros. Discovery by 1.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock worth $96,784,000 after purchasing an additional 123,693 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 1.9 %

Shares of WBD stock opened at $8.24 on Friday. The stock has a market capitalization of $20.19 billion, a price-to-earnings ratio of -6.65 and a beta of 1.48. The company’s fifty day simple moving average is $7.86 and its two-hundred day simple moving average is $7.98. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WBD. Morgan Stanley cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Macquarie reduced their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Barrington Research reiterated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. TD Cowen cut their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $10.93.

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.