Westchester Capital Management LLC Purchases Shares of 17,465 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Westchester Capital Management LLC purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 17,465 shares of the company’s stock, valued at approximately $200,000.

Several other large investors have also modified their holdings of WBD. Boyar Asset Management Inc. acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth $1,370,000. Bessemer Group Inc. purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth $385,000. SG Americas Securities LLC purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth $2,938,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth $67,859,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth $1,073,000. 55.18% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Down 3.4 %

Shares of WBD opened at $13.57 on Thursday. The stock has a market capitalization of $32.98 billion, a P/E ratio of -5.18, a PEG ratio of 1.00 and a beta of 1.50. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $14.34 and a two-hundred day simple moving average of $12.54. Warner Bros. Discovery, Inc. has a twelve month low of $8.82 and a twelve month high of $27.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WBD shares. Guggenheim upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 price objective on the stock in a research note on Wednesday, January 11th. Macquarie lifted their price objective on Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. Morgan Stanley boosted their target price on Warner Bros. Discovery from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. Finally, Rosenblatt Securities boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $11.00 and gave the stock a “sell” rating in a research report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average 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.