Pitcairn Co. Buys Shares of 11,006 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pitcairn Co. acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,006 shares of the company’s stock, valued at approximately $91,000.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management grew its position 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 valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. Commerce Bank lifted its stake in Warner Bros. Discovery by 2.4% in the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after acquiring an additional 1,286 shares during the last quarter. GAM Holding AG lifted its stake in Warner Bros. Discovery by 0.3% in the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after acquiring an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC lifted its stake in Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after acquiring an additional 1,461 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in Warner Bros. Discovery by 1.4% in the third quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after acquiring an additional 1,517 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Evercore ISI cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Barclays raised their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Finally, Raymond James raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Trading Up 2.7 %

Shares of Warner Bros. Discovery stock opened at $10.38 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market cap of $25.46 billion, a price-to-earnings ratio of -2.27 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average price is $8.45 and its 200-day moving average price is $8.00.

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, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal 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.