Northwest Investment Counselors LLC Invests $69,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Northwest Investment Counselors LLC acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,331 shares of the company’s stock, valued at approximately $69,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC grew its stake in Warner Bros. Discovery by 14.9% during the first quarter. Park Avenue Securities LLC now owns 40,111 shares of the company’s stock worth $350,000 after buying an additional 5,212 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at $182,000. First Financial Corp IN boosted its stake in Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after buying an additional 2,887 shares in the last quarter. Thompson Investment Management Inc. lifted its stake in Warner Bros. Discovery by 23.5% in the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after purchasing an additional 213,149 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Warner Bros. Discovery by 10.0% during the first quarter. Sound Income Strategies LLC now owns 149,403 shares of the company’s stock worth $1,304,000 after buying an additional 13,553 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 3.5 %

WBD opened at $7.55 on Tuesday. The company has a fifty day moving average price of $7.79 and a two-hundred day moving average price of $7.86. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a market cap of $18.50 billion, a P/E ratio of -6.09 and a beta of 1.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company posted ($0.51) earnings per share. Analysts predict that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on WBD. Barclays dropped their target price on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Barrington Research reissued an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Macquarie decreased their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, TD Cowen cut their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and an average target price of $10.66.

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.