ZWJ Investment Counsel Inc. Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ZWJ Investment Counsel Inc. lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 416,787 shares of the company’s stock after selling 32,332 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Warner Bros. Discovery were worth $4,743,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Institute for Wealth Management LLC. grew its holdings in shares of Warner Bros. Discovery by 39.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 29,442 shares of the company’s stock worth $335,000 after purchasing an additional 8,258 shares during the last quarter. Xponance Inc. grew its holdings in shares of Warner Bros. Discovery by 0.6% in the fourth quarter. Xponance Inc. now owns 287,750 shares of the company’s stock worth $3,275,000 after purchasing an additional 1,740 shares during the last quarter. Guardian Investment Management grew its holdings in shares of Warner Bros. Discovery by 14.2% in the fourth quarter. Guardian Investment Management now owns 43,580 shares of the company’s stock worth $496,000 after purchasing an additional 5,434 shares during the last quarter. Mraz Amerine & Associates Inc. grew its holdings in shares of Warner Bros. Discovery by 0.6% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 183,745 shares of the company’s stock worth $2,091,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Warner Bros. Discovery by 71.1% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,951 shares of the company’s stock worth $56,000 after purchasing an additional 2,057 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Barclays dropped their target price 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. Redburn Atlantic cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Thursday, January 11th. Macquarie dropped their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Barrington Research dropped their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Finally, Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, March 4th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.24.

Warner Bros. Discovery Stock Performance

WBD traded up $0.09 during trading on Friday, reaching $8.40. 26,351,442 shares of the company’s stock were exchanged, compared to its average volume of 26,728,809. Warner Bros. Discovery, Inc. has a 1 year low of $8.02 and a 1 year high of $14.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $20.49 billion, a P/E ratio of -6.56 and a beta of 1.51. The company’s fifty day simple moving average is $8.77 and its 200-day simple moving average is $10.05.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -0.35 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.