Park Avenue Securities LLC Purchases Shares of 20,637 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Park Avenue Securities LLC purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,637 shares of the company’s stock, valued at approximately $237,000.

A number of other institutional investors have also recently made changes to their positions in WBD. Newport Trust Co acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $510,079,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $67,859,000. State of Michigan Retirement System acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $66,723,000. Nordea Investment Management AB acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $37,469,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $32,838,000. Institutional investors own 55.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WBD. Cowen dropped their price target on Warner Bros. Discovery to $17.00 in a research note on Tuesday, November 15th. Citigroup dropped their price target on Warner Bros. Discovery from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Barclays dropped their price target on Warner Bros. Discovery from $17.00 to $15.00 in a research note on Tuesday, October 11th. Wells Fargo & Company dropped their price target on Warner Bros. Discovery from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, November 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Warner Bros. Discovery from $48.00 to $35.00 in a research note on Tuesday, November 8th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.18.

Warner Bros. Discovery Stock Performance

WBD stock opened at $13.51 on Tuesday. The firm has a market cap of $32.81 billion, a PE ratio of -8.04, a P/E/G ratio of 1.30 and a beta of 1.37. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average of $10.96 and a 200-day moving average of $12.32. Warner Bros. Discovery, Inc. has a 12-month low of $8.82 and a 12-month high of $27.50.

Warner Bros. Discovery (NASDAQ:WBD – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.15. Warner Bros. Discovery had a positive return on equity of 2.18% and a negative net margin of 20.13%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $10.51 billion. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post 0.65 earnings per share for the current year.

Warner Bros. Discovery Profile

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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.