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.
→ The Lithium "Lie" (From Investing Trends)
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.
Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to EMAIL.
Before you consider Warner Bros. Discovery, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Warner Bros. Discovery wasn't on the list.
While Warner Bros. Discovery currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here