Gofen & Glossberg LLC IL Invests $285,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by on Mar 24th, 2023

Gofen & Glossberg LLC IL purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,035 shares of the company’s stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WBD. Boyar Asset Management Inc. purchased a new position in Warner Bros. Discovery during the third quarter valued at $1,370,000. Bessemer Group Inc. purchased a new position in Warner Bros. Discovery during the third quarter valued at $385,000. SG Americas Securities LLC purchased a new position in Warner Bros. Discovery during the third quarter valued at $2,938,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Warner Bros. Discovery during the third quarter valued at $67,859,000. Finally, Vontobel Holding Ltd. purchased a new position in Warner Bros. Discovery during the third quarter valued at $1,073,000. 55.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WBD. Wolfe Research raised Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Friday, March 17th. Macquarie raised their price target on Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. Rosenblatt Securities raised their price target on Warner Bros. Discovery from $9.00 to $11.00 and gave the company a “sell” rating in a report on Friday, February 24th. Wells Fargo & Company raised Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $13.00 to $20.00 in a report on Friday, March 17th. Finally, Morgan Stanley raised their price target on Warner Bros. Discovery from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. One equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

Warner Bros. Discovery Trading Up 0.1 %

Shares of Warner Bros. Discovery stock opened at $14.53 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $8.82 and a 52-week high of $27.50. 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’s 50-day simple moving average is $14.63 and its 200-day simple moving average is $12.60. The firm has a market cap of $35.31 billion, a price-to-earnings ratio of -5.55, a price-to-earnings-growth ratio of 2.14 and a beta of 1.50.

Warner Bros. Discovery Profile

(Get Rating)

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.

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

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