ZWJ Investment Counsel Inc. Sells 32,332 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ZWJ Investment Counsel Inc. cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,787 shares of the company’s stock after selling 32,332 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Warner Bros. Discovery were worth $4,743,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fortis Group Advisors LLC bought a new position in Warner Bros. Discovery during the 3rd quarter valued at $25,000. Peoples Bank KS purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter worth about $27,000. Pacifica Partners Inc. boosted its holdings in shares of Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter worth about $28,000. Finally, Headinvest LLC purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter worth about $28,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of WBD traded up $0.09 during midday trading on Friday, hitting $8.40. 26,351,442 shares of the company traded hands, compared to its average volume of 26,728,809. The stock has a 50-day moving average of $8.77 and a 200-day moving average of $10.05. Warner Bros. Discovery, Inc. has a one year low of $8.02 and a one year high of $14.76. The firm has a market cap of $20.49 billion, a P/E ratio of -6.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WBD shares. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a report on Thursday, January 11th. Macquarie cut their price target 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. Citigroup cut their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Barclays lowered their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Finally, Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.24.

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.