Northwest Investment Counselors LLC Sells 18,838 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Northwest Investment Counselors LLC lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,187 shares of the company’s stock after selling 18,838 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Warner Bros. Discovery were worth $554,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WBD. Aspire Private Capital LLC grew its position in shares of Warner Bros. Discovery by 33.2% in the 4th quarter. Aspire Private Capital LLC now owns 2,823 shares of the company’s stock valued at $26,762,040,000 after purchasing an additional 704 shares during the period. Avantax Advisory Services Inc. raised its holdings in shares of Warner Bros. Discovery by 1.6% during the first quarter. Avantax Advisory Services Inc. now owns 50,356 shares of the company’s stock worth $760,000 after acquiring an additional 770 shares during the period. New York Life Investment Management LLC raised its holdings in shares of Warner Bros. Discovery by 0.3% during the first quarter. New York Life Investment Management LLC now owns 314,279 shares of the company’s stock worth $4,746,000 after acquiring an additional 799 shares during the period. Deseret Mutual Benefit Administrators lifted its position in Warner Bros. Discovery by 7.6% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 11,371 shares of the company’s stock valued at $172,000 after acquiring an additional 804 shares in the last quarter. Finally, MV Capital Management Inc. increased its holdings in Warner Bros. Discovery by 57.0% during the 1st quarter. MV Capital Management Inc. now owns 2,421 shares of the company’s stock worth $37,000 after purchasing an additional 879 shares in the last quarter. Institutional investors and hedge funds own 58.26% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded up $0.11 during trading on Friday, reaching $11.84. 30,316,113 shares of the company’s stock were exchanged, compared to its average volume of 20,549,004. Warner Bros. Discovery, Inc. has a twelve month low of $8.82 and a twelve month high of $16.34. The firm’s fifty day moving average price is $12.71 and its 200-day moving average price is $13.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $28.86 billion, a PE ratio of -4.29 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.12). The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.44 billion. Warner Bros. Discovery had a negative net margin of 16.04% and a positive return on equity of 1.27%. Warner Bros. Discovery’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -1.01 EPS for the current year.

Insiders Place Their Bets

In other news, insider Gerhard Zeiler bought 38,000 shares of the stock in a transaction dated Monday, August 7th. The shares were bought at an average price of $14.09 per share, for a total transaction of $535,420.00. Following the completion of the purchase, the insider now owns 329,032 shares in the company, valued at $4,636,060.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on WBD shares. Wolfe Research lowered Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. Truist Financial reaffirmed a “buy” rating and set a $17.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, September 6th. Benchmark reissued a “buy” rating and issued a $26.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, August 7th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $10.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, September 5th. Finally, Barclays raised their target price on shares of Warner Bros. Discovery from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.66.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.