Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 25,080 shares of the company’s stock after selling 4,079 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Warner Bros. Discovery were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Larson Financial Group LLC raised its holdings in shares of Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at $41,000. Brooklyn Investment Group acquired a new stake in Warner Bros. Discovery during the 3rd quarter worth $51,000. Quarry LP grew its holdings in shares of Warner Bros. Discovery by 2,185.1% during the second quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after buying an additional 6,031 shares in the last quarter. Finally, Cromwell Holdings LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter valued at about $61,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Down 0.8 %

Shares of NASDAQ:WBD opened at $10.57 on Friday. The firm has a market capitalization of $25.93 billion, a PE ratio of -2.31 and a beta of 1.50. 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 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50-day moving average is $10.03 and its two-hundred day moving average is $8.52.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. Analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. KeyCorp increased their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Barclays boosted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.44.

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.