Prospera Private Wealth LLC Acquires Shares of 17,937 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Prospera Private Wealth LLC purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 3rd quarter, Holdings Channel reports. The fund purchased 17,937 shares of the company’s stock, valued at approximately $148,000.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Warner Bros. Discovery by 25.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 515,077 shares of the company’s stock worth $4,249,000 after buying an additional 105,670 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Warner Bros. Discovery in the third quarter valued at approximately $1,695,000. Banque Cantonale Vaudoise lifted its position in Warner Bros. Discovery by 149.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 59,291 shares of the company’s stock worth $490,000 after buying an additional 35,554 shares in the last quarter. Caprock Group LLC bought a new stake in Warner Bros. Discovery during the third quarter worth about $99,000. Finally, Pathstone Holdings LLC boosted its holdings in shares of Warner Bros. Discovery by 11.6% in the 3rd quarter. Pathstone Holdings LLC now owns 171,331 shares of the company’s stock valued at $1,413,000 after buying an additional 17,869 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 3.3 %

WBD stock opened at $10.28 on Friday. The company has a market cap of $25.22 billion, a P/E ratio of -2.24 and a beta of 1.48. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The stock’s 50 day simple moving average is $8.26 and its 200 day simple moving average is $7.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WBD. Evercore ISI reduced their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company decreased their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Moffett Nathanson lowered their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.55.

About Warner Bros. Discovery

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.