Transcend Capital Advisors LLC Sells 1,873 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by Defense World Staff on Apr 1st, 2023

Transcend Capital Advisors LLC lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) by 9.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,001 shares of the company’s stock after selling 1,873 shares during the period. Transcend Capital Advisors LLC’s holdings in Warner Bros. Discovery were worth $161,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Country Trust Bank bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at about $25,000. JCIC Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $25,000. Peoples Financial Services CORP. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $25,000. Financial Management Professionals Inc. acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $26,000. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $26,000. Institutional investors own 55.18% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $15.10 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $8.82 and a 1-year high of $27.50. The stock has a fifty day simple moving average of $14.83 and a two-hundred day simple moving average of $12.67. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.01. The firm has a market cap of $36.69 billion, a price-to-earnings ratio of -5.76, a price-to-earnings-growth ratio of 1.72 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WBD shares. Wells Fargo & Company raised Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $20.00 in a research note on Friday, March 17th. Guggenheim raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 price objective on the stock in a research note on Wednesday, January 11th. Rosenblatt Securities upped their price target 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. 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 research note on Friday, March 17th. Finally, Macquarie upped their price target on Warner Bros. Discovery from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.31.

Warner Bros. Discovery Profile

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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.