AlphaCrest Capital Management LLC Takes $555,000 Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

AlphaCrest Capital Management LLC acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 48,270 shares of the company’s stock, valued at approximately $555,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $224,000. Macquarie Group Ltd. purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $2,132,000. Gamco Investors INC. ET AL purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $23,147,000. Gabelli Funds LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $16,327,000. Finally, Raffles Associates LP purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $1,150,000. Institutional investors own 55.18% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $14.77 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 52-week low of $8.82 and a 52-week high of $27.50. The firm has a market cap of $35.89 billion, a price-to-earnings ratio of -5.64, a PEG ratio of 1.03 and a beta of 1.50. The business’s fifty day moving average is $13.99 and its 200 day moving average is $12.52.

Analysts Set New Price Targets

WBD has been the topic of several analyst reports. Guggenheim raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 target price on the stock in a research report on Wednesday, January 11th. Morgan Stanley boosted their price objective on Warner Bros. Discovery from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, January 30th. Cowen cut their price objective on Warner Bros. Discovery to $17.00 in a research report on Tuesday, November 15th. Rosenblatt Securities boosted their price objective on Warner Bros. Discovery from $9.00 to $11.00 and gave the stock a “sell” rating in a research report on Friday, February 24th. Finally, Macquarie boosted their price objective on Warner Bros. Discovery from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 31st. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.98.

Warner Bros. Discovery Company 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.