Financial Counselors Inc. Trims Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Financial Counselors Inc. cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,764 shares of the company’s stock after selling 2,084 shares during the quarter. Financial Counselors Inc.’s holdings in Warner Bros. Discovery were worth $600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the last quarter. Ethos Financial Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter worth about $29,000. Briaud Financial Planning Inc raised its stake in Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. Finally, Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WBD shares. Barclays boosted their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. KeyCorp increased their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Barrington Research reiterated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Trading Down 5.8 %

Shares of NASDAQ:WBD opened at $10.37 on Friday. The company has a 50 day moving average of $10.52 and a 200-day moving average of $9.69. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $25.46 billion, a P/E ratio of -2.26, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.