Avantax Advisory Services Inc. Purchases Shares of 67,164 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Avantax Advisory Services Inc. purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDGet Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 67,164 shares of the company’s stock, valued at approximately $772,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBD. RNC Capital Management LLC bought a new position in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $2,327,000. McIlrath & Eck LLC bought a new position in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $44,000. Wedbush Securities Inc. bought a new position in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $993,000. HGK Asset Management Inc. bought a new position in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $3,187,000. Finally, Community Bank of Raymore bought a new position in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $996,000. Institutional investors own 55.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WBD shares. Royal Bank of Canada decreased their target price on Warner Bros. Discovery from $44.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, November 7th. Cowen cut their price target on Warner Bros. Discovery to $17.00 in a research note on Tuesday, November 15th. Credit Suisse Group cut their price target on Warner Bros. Discovery from $39.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, October 13th. Macquarie cut their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 4th. Finally, Barclays cut their price target on Warner Bros. Discovery from $17.00 to $15.00 in a research note on Tuesday, October 11th. 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. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus price target of $22.18.

Warner Bros. Discovery Stock Performance

WBD stock opened at $13.02 on Monday. The company has a market cap of $31.62 billion, a P/E ratio of -7.75, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37. Warner Bros. Discovery, Inc. has a 1 year low of $8.82 and a 1 year high of $27.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s fifty day moving average price is $10.92 and its 200-day moving average price is $12.33.

Warner Bros. Discovery (NASDAQ:WBDGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.15. Warner Bros. Discovery had a positive return on equity of 2.18% and a negative net margin of 20.13%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $10.51 billion. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post 0.65 earnings per share for the current year.

Warner Bros. Discovery Company Profile

(Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

Receive News & Ratings for Warner Bros. Discovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Warner Bros. Discovery and related companies with MarketBeat.com's FREE daily email newsletter.