EP Wealth Advisors LLC Buys Shares of 29,961 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

EP Wealth Advisors LLC bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 29,961 shares of the company’s stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WBD. Boyar Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter worth $1,370,000. Bessemer Group Inc. acquired a new stake in Warner Bros. Discovery during the third quarter valued at $385,000. SG Americas Securities LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth about $2,938,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth about $67,859,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth about $1,073,000. Institutional investors own 55.18% of the company’s stock.

Warner Bros. Discovery Trading Up 1.3 %

WBD stock opened at $14.34 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $8.82 and a 1-year high of $27.50. The firm has a market cap of $34.85 billion, a P/E ratio of -5.47, a P/E/G ratio of 0.97 and a beta of 1.50. The business’s 50 day moving average is $14.46 and its 200-day moving average is $12.56. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.01.

Analysts Set New Price Targets

A number of analysts have weighed in on WBD shares. Morgan Stanley boosted their price target 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. 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. 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. Wolfe Research raised Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Friday. Finally, Wells Fargo & Company raised Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $13.00 to $20.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

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.