Johnson Investment Counsel Inc. Decreases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Johnson Investment Counsel Inc. reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,631 shares of the company’s stock after selling 2,284 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Warner Bros. Discovery were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc raised its stake in shares of Warner Bros. Discovery by 31.9% during the third quarter. Atria Investments Inc now owns 98,062 shares of the company’s stock valued at $809,000 after acquiring an additional 23,697 shares during the last quarter. Versor Investments LP purchased a new position in Warner Bros. Discovery during the 3rd quarter valued at about $93,000. Apollon Wealth Management LLC raised its position in Warner Bros. Discovery by 96.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 53,719 shares of the company’s stock valued at $443,000 after purchasing an additional 26,421 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Warner Bros. Discovery by 2.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,609,542 shares of the company’s stock worth $38,029,000 after buying an additional 106,372 shares during the period. Finally, KBC Group NV grew its position in shares of Warner Bros. Discovery by 4.8% in the 3rd quarter. KBC Group NV now owns 899,351 shares of the company’s stock worth $7,420,000 after buying an additional 40,862 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $10.19 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company’s fifty day moving average price is $10.37 and its 200-day moving average price is $9.45. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market capitalization of $25.01 billion, a PE ratio of -2.22, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

WBD has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. The Goldman Sachs Group upped their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Citigroup boosted their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, KeyCorp lifted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average 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 acquired 17,346 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.