Townsquare Capital LLC Purchases 8,784 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Townsquare Capital LLC boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 47.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 27,134 shares of the company’s stock after acquiring an additional 8,784 shares during the period. Townsquare Capital LLC’s holdings in Warner Bros. Discovery were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. Cetera Advisors LLC boosted its stake in Warner Bros. Discovery by 26.5% during the first quarter. Cetera Advisors LLC now owns 89,301 shares of the company’s stock valued at $780,000 after buying an additional 18,699 shares during the last quarter. Czech National Bank lifted its stake in shares of Warner Bros. Discovery by 8.8% in the 2nd quarter. Czech National Bank now owns 424,906 shares of the company’s stock valued at $3,161,000 after purchasing an additional 34,454 shares during the last quarter. Nepsis Inc. lifted its stake in shares of Warner Bros. Discovery by 19.7% in the 2nd quarter. Nepsis Inc. now owns 1,432,766 shares of the company’s stock valued at $10,660,000 after purchasing an additional 236,152 shares during the last quarter. M&G Plc lifted its stake in shares of Warner Bros. Discovery by 5.1% in the 2nd quarter. M&G Plc now owns 613,829 shares of the company’s stock valued at $4,297,000 after purchasing an additional 29,539 shares during the last quarter. Finally, Maia Wealth LLC bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at approximately $127,000. 59.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Raymond James raised their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Trading Down 0.2 %

WBD opened at $10.66 on Friday. The stock’s fifty day moving average is $8.77 and its two-hundred day moving average is $8.12. The company has a market capitalization of $26.15 billion, a P/E ratio of -2.33 and a beta of 1.52. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) 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 business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the business posted ($0.17) EPS. The business’s revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share 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.