Northwest Investment Counselors LLC Takes $72,000 Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Northwest Investment Counselors LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,208 shares of the company’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fortis Group Advisors LLC acquired a new stake in Warner Bros. Discovery in the third quarter valued at approximately $25,000. Pacifica Partners Inc. raised its holdings in Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after acquiring an additional 1,345 shares in the last quarter. Headinvest LLC acquired a new stake in Warner Bros. Discovery in the third quarter valued at approximately $28,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Warner Bros. Discovery during the fourth quarter worth approximately $33,000. Finally, Rakuten Securities Inc. acquired a new stake in Warner Bros. Discovery during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 1.8 %

NASDAQ WBD opened at $7.31 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.94 and a 12 month high of $14.76. The company has a 50-day moving average of $7.93 and a 200-day moving average of $9.19. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $17.91 billion, a P/E ratio of -5.90 and a beta of 1.53.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the prior year, the company earned $0.18 EPS. The company’s revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays cut their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Benchmark reiterated a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, June 17th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Finally, Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.16.

About Warner Bros. Discovery

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.