Summit Place Financial Advisors LLC purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 61,228 shares of the company’s stock, valued at approximately $505,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in shares of Warner Bros. Discovery by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 260,070 shares of the company’s stock valued at $2,145,000 after buying an additional 17,590 shares during the period. Frank Rimerman Advisors LLC bought a new position in Warner Bros. Discovery in the third quarter valued at about $87,000. DekaBank Deutsche Girozentrale increased its position in Warner Bros. Discovery by 55.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 614,390 shares of the company’s stock worth $5,079,000 after purchasing an additional 218,270 shares during the period. PFG Investments LLC raised its holdings in Warner Bros. Discovery by 1.4% during the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after purchasing an additional 1,517 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC bought a new stake in Warner Bros. Discovery during the 3rd quarter worth about $116,000. Institutional investors and hedge funds own 59.95% of the company’s stock.
Warner Bros. Discovery Stock Up 1.1 %
Warner Bros. Discovery stock opened at $7.68 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm has a market cap of $18.82 billion, a P/E ratio of -6.13 and a beta of 1.48. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The business has a fifty day moving average of $7.82 and a two-hundred day moving average of $7.83.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. Evercore ISI lowered their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft reduced their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company decreased their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.66.
Read Our Latest Stock Analysis on Warner Bros. Discovery
About Warner Bros. Discovery
Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.
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