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

PFG Investments LLC lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,307 shares of the company’s stock after purchasing 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.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. NorthCrest Asset Manangement LLC bought a new stake in Warner Bros. Discovery in the third quarter valued at approximately $116,000. Forsta AP Fonden increased its holdings in shares of Warner Bros. Discovery by 11.8% during the 3rd quarter. Forsta AP Fonden now owns 489,569 shares of the company’s stock worth $4,039,000 after acquiring an additional 51,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Warner Bros. Discovery by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after acquiring an additional 105,321 shares during the period. Allworth Financial LP lifted its holdings in Warner Bros. Discovery by 1.3% during the 3rd quarter. Allworth Financial LP now owns 155,174 shares of the company’s stock valued at $1,280,000 after purchasing an additional 1,954 shares during the last quarter. Finally, Cromwell Holdings LLC bought a new position in Warner Bros. Discovery during the third quarter worth $61,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Up 1.1 %

WBD opened at $7.60 on Monday. The company’s 50 day moving average is $7.82 and its 200-day moving average is $7.83. The company has a market cap of $18.62 billion, a P/E 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 1-year low of $6.64 and a 1-year high of $12.70.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WBD. Evercore ISI dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays cut their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Benchmark reissued a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, TD Cowen decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.66.

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.