Ethic Inc. Trims Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ethic Inc. lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,199 shares of the company’s stock after selling 7,607 shares during the quarter. Ethic Inc.’s holdings in Warner Bros. Discovery were worth $2,116,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Colonial Trust Advisors increased its stake in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after acquiring an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. increased its stake in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares in the last quarter. Graney & King LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $28,000. Finally, Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $29,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $9.04 on Monday. The firm has a market capitalization of $22.19 billion, a P/E ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46. 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, Inc. has a one year low of $6.64 and a one year high of $12.70. The business has a fifty day moving average of $9.35 and a 200 day moving average of $9.86.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of analyst reports. Barclays raised their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Friday. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. KeyCorp cut their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley reduced their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.22.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.

About Warner Bros. Discovery

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.