PFG Investments LLC Acquires 1,517 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

PFG Investments LLC increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,307 shares of the company’s stock after buying an additional 1,517 shares during the period. PFG Investments LLC’s holdings in Warner Bros. Discovery were worth $927,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WBD. Sessa Capital IM L.P. raised its position in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after acquiring an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after purchasing an additional 235,192 shares during the period. Bank of New York Mellon Corp increased its holdings in Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares during the last quarter. Yacktman Asset Management LP lifted its stake in Warner Bros. Discovery by 1.2% in the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after buying an additional 100,565 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Warner Bros. Discovery by 23.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock worth $56,116,000 after buying an additional 1,452,913 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBD has been the subject of a number of recent analyst reports. Macquarie lowered their price target on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. TD Cowen cut their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Morgan Stanley dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.66.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $7.60 on Monday. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of -6.13 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a fifty day simple moving average of $7.82 and a 200 day simple moving average of $7.83. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) earnings per share. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

Warner Bros. Discovery Company 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.