Meridian Investment Counsel Inc. Has $358,000 Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Meridian Investment Counsel Inc. lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,384 shares of the company’s stock after selling 1,826 shares during the period. Meridian Investment Counsel Inc.’s holdings in Warner Bros. Discovery were worth $358,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery during the second quarter worth $26,000. Crewe Advisors LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter worth about $27,000. OFI Invest Asset Management increased its stake in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after buying an additional 1,221 shares during the period. Transcendent Capital Group LLC boosted its position in Warner Bros. Discovery by 665.4% during the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after buying an additional 3,480 shares during the period. Finally, LRI Investments LLC acquired a new position in Warner Bros. Discovery in the 1st quarter valued at approximately $39,000. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on WBD. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Wells Fargo & Company reduced their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley cut 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 Monday, July 29th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Down 6.5 %

Warner Bros. Discovery stock opened at $9.22 on Friday. The firm has a market capitalization of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48. The firm’s fifty day moving average price is $8.10 and its two-hundred day moving average price is $7.88. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) EPS. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 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.