Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Cut by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,067 shares of the company’s stock after selling 3,816 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Warner Bros. Discovery were worth $82,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Family Firm Inc. purchased a new stake in Warner Bros. Discovery in the 2nd quarter worth approximately $26,000. Crewe Advisors LLC acquired a new position in shares of Warner Bros. Discovery in the first quarter worth $27,000. OFI Invest Asset Management raised its holdings in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. 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 valued at $30,000 after purchasing an additional 2,887 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of several research reports. Evercore ISI reduced their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. Barclays cut their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Stock Up 10.8 %

NASDAQ WBD opened at $8.49 on Monday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $20.80 billion, a PE ratio of -6.85 and a beta of 1.48. The firm has a 50-day simple moving average of $7.75 and a 200 day simple moving average of $7.98.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.51) EPS. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current 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.