Prospera Private Wealth LLC Takes Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Prospera Private Wealth LLC bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,937 shares of the company’s stock, valued at approximately $148,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management grew its stake in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares in the last quarter. GAM Holding AG increased its stake in Warner Bros. Discovery by 0.3% during the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after purchasing an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC raised its stake in Warner Bros. Discovery by 5.4% during the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after acquiring an additional 1,461 shares during the period. PFG Investments LLC lifted its holdings in shares of Warner Bros. Discovery by 1.4% in 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, Dynamic Advisor Solutions LLC grew its position in shares of Warner Bros. Discovery by 13.1% during the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock worth $111,000 after acquiring an additional 1,565 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Up 3.3 %

Shares of Warner Bros. Discovery stock opened at $10.28 on Friday. The company has a market cap of $25.22 billion, a price-to-earnings ratio of -2.24 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company’s fifty day simple moving average is $8.26 and its 200-day simple moving average is $7.92. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the business posted ($0.17) EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WBD. Moffett Nathanson cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Barclays boosted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Raymond James raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Profile

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.