Whittier Trust Co. Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Whittier Trust Co. lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 43.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,767 shares of the company’s stock after selling 5,301 shares during the quarter. Whittier Trust Co.’s holdings in Warner Bros. Discovery were worth $59,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WBD. The Manufacturers Life Insurance Company increased its stake in Warner Bros. Discovery by 17.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after purchasing an additional 3,710,343 shares during the period. Norges Bank acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $198,916,000. Boston Partners increased its stake in Warner Bros. Discovery by 9.9% during the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after buying an additional 1,414,952 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Warner Bros. Discovery by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock worth $155,594,000 after buying an additional 575,123 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in Warner Bros. Discovery by 1.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock worth $96,784,000 after buying an additional 123,693 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research analyst reports. The Goldman Sachs Group began coverage on Warner Bros. Discovery in a research report on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 target price for the company. Barrington Research reiterated an “outperform” rating and issued a $15.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price for the company in a report on Friday, May 10th. Finally, Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.82.

View Our Latest Research Report on Warner Bros. Discovery

Warner Bros. Discovery Trading Down 0.8 %

Warner Bros. Discovery stock opened at $7.28 on Wednesday. Warner Bros. Discovery, Inc. has a one year low of $6.94 and a one year high of $14.76. The business has a fifty day moving average of $7.72 and a two-hundred day moving average of $8.84. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) 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). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter last year, the business earned $0.18 EPS. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. Research analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

About Warner Bros. Discovery

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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