LSV Asset Management Acquires New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)
LSV Asset Management acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Rating) during the third quarter, according to its most recent 13F filing with the Securities &…
LSV Asset Management acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Rating) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,375,297 shares of the company's stock, valued at approximately $72,136,000. LSV Asset Management owned approximately 0.22% of Warner Bros. Discovery as of its most recent SEC filing.
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Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $2,938,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Warner Bros. Discovery in the third quarter worth $67,859,000. Sandy Spring Bank acquired a new position in shares of Warner Bros. Discovery in the third quarter worth $155,000. Achmea Investment Management B.V. purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth $842,000. Finally, TSP Capital Management Group LLC acquired a new stake in Warner Bros. Discovery during the third quarter valued at $7,035,000. 55.18% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on WBD. Wells Fargo & Company lowered their price target on Warner Bros. Discovery from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, November 4th. Morgan Stanley cut their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, December 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Warner Bros. Discovery from $48.00 to $35.00 in a report on Tuesday, November 8th. Citigroup decreased their price target on Warner Bros. Discovery from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, November 10th. Finally, Barclays cut their price objective on Warner Bros. Discovery from $17.00 to $15.00 in a research note on Tuesday, October 11th. One 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.18.
Warner Bros. Discovery Trading Down 0.7 %
NASDAQ WBD traded down $0.10 during trading on Tuesday, hitting $13.41. The company's stock had a trading volume of 3,830,130 shares, compared to its average volume of 24,685,375. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $10.96 and a 200 day moving average price of $12.32. Warner Bros. Discovery, Inc. has a 52 week low of $8.82 and a 52 week high of $27.50.
Warner Bros. Discovery (NASDAQ:WBD - Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.15. The business had revenue of $9.82 billion for 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%. Equities research analysts predict that Warner Bros. Discovery, Inc. will post 0.65 earnings per share for the current fiscal year.
About Warner Bros. Discovery
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.
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