Creative Planning Has $2.95 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Creative Planning boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,699 shares of the company’s stock after buying an additional 44,129 shares during the quarter. Creative Planning’s holdings in Warner Bros. Discovery were worth $2,951,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. CX Institutional acquired a new stake in Warner Bros. Discovery in the 3rd quarter valued at $183,000. Douglas Lane & Associates LLC boosted its stake in Warner Bros. Discovery by 18.8% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,515,569 shares of the company’s stock valued at $12,503,000 after buying an additional 239,699 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Warner Bros. Discovery by 342.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 28,542 shares of the company’s stock valued at $235,000 after buying an additional 22,098 shares in the last quarter. Silverlake Wealth Management LLC boosted its stake in Warner Bros. Discovery by 21.8% in the 3rd quarter. Silverlake Wealth Management LLC now owns 12,234 shares of the company’s stock valued at $101,000 after buying an additional 2,189 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Warner Bros. Discovery by 260.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 17,851 shares of the company’s stock worth $147,000 after purchasing an additional 12,900 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. TD Cowen reduced their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Moffett Nathanson reduced their price objective 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.66.

Warner Bros. Discovery Trading Up 1.1 %

NASDAQ WBD opened at $7.60 on Friday. The stock has a 50-day simple moving average of $7.82 and a 200 day simple moving average of $7.84. The company has a market capitalization of $18.62 billion, a PE ratio of -6.13 and a beta of 1.48. 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, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released 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). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the prior year, the company posted ($0.51) EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current year.

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.