Accurate Wealth Management LLC Takes $55,000 Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by on Mar 23rd, 2023

Accurate Wealth Management LLC purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,358 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WBD. JCIC Asset Management Inc. purchased a new position in shares of Warner Bros. Discovery during the third quarter worth about $25,000. Country Trust Bank purchased a new position in shares of Warner Bros. Discovery during the third quarter worth about $25,000. CVA Family Office LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter worth about $26,000. Guardian Wealth Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter worth about $26,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of Warner Bros. Discovery during the third quarter worth about $26,000. 55.18% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $14.51 on Thursday. The business has a 50 day moving average of $14.60 and a 200 day moving average of $12.58. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.01. The company has a market cap of $35.26 billion, a PE ratio of -5.54, a P/E/G ratio of 0.99 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 52 week low of $8.82 and a 52 week high of $27.50.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Macquarie boosted their price objective on Warner Bros. Discovery from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, January 31st. Morgan Stanley upped their target price on Warner Bros. Discovery from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, January 30th. Wells Fargo & Company raised Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $20.00 in a research note on Friday, March 17th. Rosenblatt Securities upped their target price on Warner Bros. Discovery from $9.00 to $11.00 and gave the stock a “sell” rating in a research note on Friday, February 24th. Finally, Guggenheim raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a research note on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.31.

About Warner Bros. Discovery

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Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.

Further Reading

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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