Avestar Capital LLC Invests $108,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Avestar Capital LLC acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 13,109 shares of the company’s stock, valued at approximately $108,000.

Several other large investors also recently made changes to their positions in WBD. 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 grew its position 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 purchasing an additional 1,286 shares in the last quarter. GAM Holding AG grew its position 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 purchasing an additional 1,437 shares in the last quarter. Waldron Private Wealth LLC grew its position 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 purchasing an additional 1,461 shares in the last quarter. Finally, PFG Investments LLC grew its position 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 purchasing an additional 1,517 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 2.7 %

WBD stock opened at $10.38 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. 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 stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2.27 and a beta of 1.48. The business’s fifty day moving average price is $8.45 and its two-hundred day moving average price is $8.00.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Raymond James raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. TD Cowen decreased their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Barrington Research reiterated an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Company 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.