Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,125 shares of the company’s stock after selling 10,259 shares during the period. Meridian Investment Counsel Inc.’s holdings in Warner Bros. Discovery were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of WBD. Hauser Brothers GmbH lifted its position in Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after buying an additional 440,000 shares during the last quarter. Principal Financial Group Inc. raised its position in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth $1,474,000. Coronation Fund Managers Ltd. increased its holdings in shares of Warner Bros. Discovery by 54.1% in the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after acquiring an additional 1,981,050 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $168,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Citigroup upped their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barrington Research restated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Warner Bros. Discovery Stock Up 3.5 %

Shares of WBD stock opened at $10.73 on Tuesday. The stock has a fifty day moving average price of $10.54 and a 200 day moving average price of $9.75. The stock has a market cap of $26.34 billion, a P/E ratio of -2.34, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.