Avantax Advisory Services Inc. Buys Shares of 67,164 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Avantax Advisory Services Inc. bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDGet Rating) in the 3rd quarter, Holdings Channel reports. The firm bought 67,164 shares of the company’s stock, valued at approximately $772,000.

Several other large investors have also modified their holdings of WBD. Newport Trust Co purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $510,079,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $67,859,000. State of Michigan Retirement System bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $66,723,000. Nordea Investment Management AB bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $37,469,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $32,838,000. Hedge funds and other institutional investors own 55.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Credit Suisse Group decreased their price target on shares of Warner Bros. Discovery from $39.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, October 13th. Cowen decreased their price target on shares of Warner Bros. Discovery to $17.00 in a research note on Tuesday, November 15th. Macquarie decreased their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, January 4th. Morgan Stanley decreased their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, December 2nd. Finally, Barclays reduced their price objective on shares of Warner Bros. Discovery from $17.00 to $15.00 in a research note on Tuesday, October 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $13.02 on Monday. The business’s fifty day simple moving average is $10.92 and its 200-day simple moving average is $12.33. The company has a market cap of $31.62 billion, a PE ratio of -7.75, a PEG ratio of 1.30 and a beta of 1.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.98. Warner Bros. Discovery, Inc. has a 12-month low of $8.82 and a 12-month high of $27.50.

Warner Bros. Discovery (NASDAQ:WBDGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $10.51 billion. Warner Bros. Discovery had a negative net margin of 20.13% and a positive return on equity of 2.18%. Analysts expect that Warner Bros. Discovery, Inc. will post 0.65 earnings per share for the current fiscal year.

Warner Bros. Discovery Profile

(Get Rating)

Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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