Park Avenue Securities LLC Invests $237,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Park Avenue Securities LLC purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDGet Rating) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,637 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds also recently modified their holdings of WBD. Country Trust Bank acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth about $25,000. Financial Management Professionals Inc. bought a new position in shares of Warner Bros. Discovery during the third quarter worth about $26,000. Tsfg LLC bought a new position in shares of Warner Bros. Discovery during the third quarter worth about $29,000. Sargent Bickham Lagudis LLC bought a new position in shares of Warner Bros. Discovery during the third quarter worth about $30,000. Finally, PSI Advisors LLC bought a new position in shares of Warner Bros. Discovery during the third quarter worth about $32,000. Institutional investors and hedge funds own 55.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WBD shares. Citigroup decreased their price objective on Warner Bros. Discovery from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Guggenheim upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 price objective for the company in a report on Wednesday, January 11th. Royal Bank of Canada decreased their price target on Warner Bros. Discovery from $44.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday, November 7th. Barclays decreased their price target on Warner Bros. Discovery from $17.00 to $15.00 in a research note on Tuesday, October 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Warner Bros. Discovery from $48.00 to $35.00 in a research note on Tuesday, November 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $22.18.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $13.51 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.98. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $27.50. The stock has a 50 day moving average of $10.96 and a 200-day moving average of $12.32. The company has a market capitalization of $32.81 billion, a P/E ratio of -8.04, a P/E/G ratio of 1.30 and a beta of 1.37.

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

About Warner Bros. Discovery

(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.

Further Reading

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

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