Warner Bros. Discovery, Inc. (NASDAQ:WBD) Given Average Recommendation of “Moderate Buy” by Analysts

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has been given an average rating of “Moderate Buy” by the twenty-one research firms that are presently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.76.

A number of brokerages recently issued reports on WBD. Raymond James increased their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Bank of America reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Rosenblatt Securities boosted their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares during the period. Hauser Brothers GmbH boosted its stake in Warner Bros. Discovery by 56.1% during the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after buying an additional 440,000 shares during the period. Private Management Group Inc. grew its position in Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Warner Bros. Discovery during the third quarter worth about $1,474,000. Finally, Blueshift Asset Management LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth about $588,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Down 1.3 %

Shares of NASDAQ:WBD opened at $9.85 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70. The business’s 50 day simple moving average is $10.43 and its two-hundred day simple moving average is $9.01. The firm has a market cap of $24.16 billion, a P/E ratio of -2.15, a PEG ratio of 7.98 and a beta of 1.49.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.