Macquarie Group Ltd. Makes New $2.13 Million Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Macquarie Group Ltd. purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) during the third quarter, Holdings Channel.com reports. The firm purchased 185,303 shares of the company’s stock, valued at approximately $2,132,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Newport Trust Co purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $510,079,000. Baupost Group LLC MA purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $333,500,000. Dimensional Fund Advisors LP purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $192,308,000. Contrarius Investment Management Ltd purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $124,814,000. Finally, Artisan Partners Limited Partnership purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $114,511,000. Hedge funds and other institutional investors own 55.18% of the company’s stock.

Warner Bros. Discovery Stock Down 3.7 %

WBD opened at $14.77 on Friday. The business has a 50 day moving average price of $13.99 and a 200 day moving average price of $12.52. Warner Bros. Discovery, Inc. has a twelve month low of $8.82 and a twelve month high of $27.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $35.89 billion, a P/E ratio of -5.64, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WBD shares. Citigroup lowered their target price 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. Morgan Stanley lifted their target price on Warner Bros. Discovery from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Rosenblatt Securities lifted their target price on Warner Bros. Discovery from $9.00 to $11.00 and gave the company a “sell” rating in a research note on Friday, February 24th. Macquarie lifted their target price on Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, January 31st. Finally, Cowen lowered their target price on Warner Bros. Discovery to $17.00 in a research note on Tuesday, November 15th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.98.

About Warner Bros. Discovery

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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.