The most recent filing that SMH Capital Advisors Inc. has made with the Securities and Exchange Commission indicates that during the third quarter of 2018, the company made a new purchase of a position in Warner Bros. Discovery, Inc. (NASDAQ: WBD). The investment fund purchased 10,593 shares of the company’s stock at approximately $122,000.
Recent transactions have caused adjustments to the proportion of the company’s stock that hedge funds and other institutional investors hold. These investors include pension funds, endowments, and foundations. During the third quarter of 2018, Country Trust Bank invested nearly $25,000 in a new position with Warner Bros. Discovery. Financial Management Professionals Inc. brought in approximately $26,000 more during the third quarter to contribute towards their ownership of Warner Bros. Discovery. The Lee Financial Company contributed $27,000 over the third quarter to forming a new investment in Warner Bros. Discovery. During the third quarter, Tsfg LLC acquired a new stake in Warner Bros. Discovery worth approximately $29,000. Last but certainly not least, during the third quarter, Sargent Bickham Lagudis LLC acquired a new position in Warner Bros. Discovery valued at approximately $30,000. This was certainly not the least significant transaction that occurred during this period. 55.18 institutional investors and hedge funds own a percent of the company’s stock.
Recent analyst reports have concentrated on WBD as well as the findings and recommendations associated with each report. In a research note published on November 7, the Royal Bank of Canada downgraded Warner Bros. Discovery from an “outperform” rating to a “neutral” rating. Additionally, the bank decreased its price objective for the company from $44.00 to $27.00. In a research report that was made public on January 4, Macquarie lowered its “outperform” rating on Warner Bros. Discovery and decreased its price objective on the company from $18.00 to $16.00. Both of these changes were made. Guggenheim moved Warner Bros. Discovery from a “neutral” rating to a “buy” rating and established a price objective of $16.50 for the company in a research report published on January 11, 2019. The price objective that Cowen has set for the shares of Warner Bros. Discovery has been lowered to $17.00, as stated in a research report published on November 15. Wells Fargo & Company lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $13.00 in a report published on Friday, November 4. They also assigned the company an “equal weight” rating. One of the analysts has suggested selling the company, while seven others have given it a rating of “hold,” and the remaining twelve have given it a rating of “buy.” The stock is currently rated as having a consensus recommendation of “Moderate Buy,” and its price target is currently viewed as having a consensus value of $22.18. This information was sourced from Bloomberg.com.
During the lunchtime trading session on Wednesday, the price of a share of WBD fell by $0.31, bringing it down to $12.92. The stock’s average volume is 28,497,848 shares, so the number of shares that changed hands during the trading session was significantly lower than that. 0.86 is the value achieved when the current, quick, and debt-to-equity ratios are all added together. The ratio of debt to equity is currently at 0.98. The share price of Warner Bros. Discovery, Inc. dropped to a 52-week low of $8.82 and reached a 52-week high of $27.50 during the same period. The company has a PEG ratio of 1.16, a beta value of 1.37, and a market value of $31.37 billion, bringing it down to $12.92. The average volume of the stock