Eudaimonia Partners LLC Purchases New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Eudaimonia Partners LLC purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 16,038 shares of the company’s stock, valued at approximately $184,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Poplar Forest Capital LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth about $7,924,000. Illinois Municipal Retirement Fund bought a new position in Warner Bros. Discovery in the 3rd quarter worth about $821,000. Selway Asset Management bought a new position in Warner Bros. Discovery in the 3rd quarter worth about $72,000. Stock Yards Bank & Trust Co. bought a new position in Warner Bros. Discovery in the 3rd quarter worth about $233,000. Finally, CENTRAL TRUST Co bought a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $567,000. 55.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WBD shares. Credit Suisse Group dropped their price objective on shares of Warner Bros. Discovery from $39.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, October 13th. Cowen dropped their price objective on shares of Warner Bros. Discovery to $17.00 in a research note on Tuesday, November 15th. Macquarie dropped their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 4th. Royal Bank of Canada dropped their price objective on shares of Warner Bros. Discovery from $44.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. Finally, Morgan Stanley dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, December 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus target price of $22.18.

Warner Bros. Discovery Trading Down 1.0 %

NASDAQ WBD opened at $13.38 on Wednesday. The company has a fifty day simple moving average of $11.00 and a two-hundred day simple moving average of $12.32. The stock has a market cap of $32.49 billion, a P/E ratio of -7.96, a P/E/G ratio of 1.30 and a beta of 1.37. Warner Bros. Discovery, Inc. has a 12-month low of $8.82 and a 12-month high of $27.50. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.98.

Warner Bros. Discovery (NASDAQ:WBD – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.15. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $10.51 billion. Warner Bros. Discovery had a negative net margin of 20.13% and a positive return on equity of 2.18%. On average, analysts forecast that Warner Bros. Discovery, Inc. will post 0.65 earnings per share for the current year.

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.