Hexagon Capital Partners LLC Sells 1,979 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hexagon Capital Partners LLC reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,767 shares of the company’s stock after selling 1,979 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Warner Bros. Discovery were worth $68,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new position in Warner Bros. Discovery during the third quarter worth approximately $25,000. Pacifica Partners Inc. increased its holdings in shares of Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after acquiring an additional 1,345 shares during the last quarter. Headinvest LLC bought a new stake in Warner Bros. Discovery in the 3rd quarter valued at $28,000. First Financial Corp IN boosted its position in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 4.6 %

Shares of Warner Bros. Discovery stock opened at $7.10 on Tuesday. The firm’s 50 day moving average is $7.83 and its 200 day moving average is $9.04. The firm has a market capitalization of $17.40 billion, a PE ratio of -5.73 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 1 year low of $6.94 and a 1 year high of $14.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on WBD shares. 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. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their target price for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Sanford C. Bernstein dropped their price target on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Wolfe Research lowered Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. Finally, Benchmark reissued a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.82.

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.