Moffett Nathanson Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Warner Bros. Discovery (NASDAQ:WBD) had its target price raised by Moffett Nathanson from $23.00 to $26.00 in a report issued on Friday,MarketScreener reports. The firm presently has a “buy” rating on the stock. Moffett Nathanson’s price objective indicates a potential upside of 14.93% from the company’s current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company raised their price target on shares of Warner Bros. Discovery from $14.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, October 16th. Raymond James Financial lifted their price target on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Argus set a $27.00 price target on Warner Bros. Discovery in a research report on Tuesday, October 28th. UBS Group raised their price objective on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Finally, Arete Research raised Warner Bros. Discovery to a “strong-buy” rating in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.35.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.20 during midday trading on Friday, reaching $22.62. 2,601,048 shares of the stock traded hands, compared to its average volume of 48,567,199. The company’s 50 day moving average is $18.22 and its 200 day moving average is $13.32. Warner Bros. Discovery has a one year low of $7.52 and a one year high of $23.06. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $56.01 billion, a PE ratio of 74.95, a P/E/G ratio of 2.56 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anton J. Levy acquired 75,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $11.00 per share, with a total value of $825,000.00. Following the completion of the transaction, the director directly owned 949,000 shares in the company, valued at approximately $10,439,000. This represents a 8.58% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 222,210 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $22.50, for a total value of $4,999,725.00. Following the transaction, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $20,676,150. This represents a 19.47% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,192,325 shares of company stock worth $22,818,215. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Warner Bros. Discovery

Institutional investors and hedge funds have recently made changes to their positions in the company. WPG Advisers LLC bought a new position in Warner Bros. Discovery during the first quarter worth $26,000. Concord Wealth Partners raised its holdings in shares of Warner Bros. Discovery by 49.9% during the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of Warner Bros. Discovery in the 1st quarter worth about $27,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after buying an additional 847 shares during the period. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at about $29,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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.