Pathstone Holdings LLC Acquires 17,869 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pathstone Holdings LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.6% during the third quarter, HoldingsChannel reports. The firm owned 171,331 shares of the company’s stock after buying an additional 17,869 shares during the period. Pathstone Holdings LLC’s holdings in Warner Bros. Discovery were worth $1,413,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WBD. Family Firm Inc. purchased a new position in shares of Warner Bros. Discovery in the 2nd quarter worth about $26,000. OFI Invest Asset Management boosted its stake in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares in the last quarter. Bank & Trust Co purchased a new stake in Warner Bros. Discovery in the second quarter worth approximately $39,000. LRI Investments LLC bought a new position in Warner Bros. Discovery during the first quarter valued at approximately $39,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter worth approximately $41,000. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on WBD. Moffett Nathanson reduced their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Evercore ISI dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Finally, Barrington Research reiterated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Price Performance

WBD stock opened at $10.38 on Friday. The firm has a 50-day moving average of $8.45 and a 200 day moving average of $8.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $25.46 billion, a P/E ratio of -2.27 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Warner Bros. Discovery 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.