Sunbelt Securities Inc. Buys New Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sunbelt Securities Inc. purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) in the third quarter, HoldingsChannel.com reports. The firm purchased 24,151 shares of the company’s stock, valued at approximately $278,000.

Several other hedge funds have also recently made changes to their positions in WBD. Vanguard Group Inc. bought a new position in Warner Bros. Discovery during the third quarter worth $2,026,804,000. BlackRock Inc. bought a new stake in Warner Bros. Discovery in the 3rd quarter valued at about $1,863,279,000. State Street Corp acquired a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $1,213,212,000. Baupost Group LLC MA bought a new position in Warner Bros. Discovery in the third quarter worth approximately $333,500,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Warner Bros. Discovery in the third quarter valued at approximately $192,308,000. 55.18% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Up 1.3 %

Warner Bros. Discovery stock opened at $14.34 on Friday. The firm has a 50 day moving average price of $14.46 and a 200-day moving average price of $12.56. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.01. Warner Bros. Discovery, Inc. has a twelve month low of $8.82 and a twelve month high of $27.50. The company has a market capitalization 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.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Macquarie upped their target price 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 shares of Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Friday. Guggenheim raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a research report on Wednesday, January 11th. Wells Fargo & Company raised shares of Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $13.00 to $20.00 in a research report on Friday. Finally, 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 report on Monday, January 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.31.

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.