Warner Bros. Discovery (NASDAQ:WBD) Reaches New 1-Year High – Still a Buy?

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.19 and last traded at $23.0190, with a volume of 89290 shares traded. The stock had previously closed at $23.03.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a research note on Friday, November 7th. Sanford C. Bernstein upped their price target on Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday, November 7th. Barclays set a $20.00 price objective on Warner Bros. Discovery in a report on Wednesday, October 8th. Seaport Global Securities boosted their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Singular Research upgraded Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

Warner Bros. Discovery Trading Down 0.3%

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market cap of $56.83 billion, a PE ratio of 76.52, a PEG ratio of 2.56 and a beta of 1.74. The stock has a 50 day moving average price of $19.53 and a 200 day moving average price of $14.00.

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

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gunnar Wiedenfels sold 222,210 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the transaction, the chief financial officer owned 918,940 shares of the company’s stock, valued at $20,676,150. The trade was a 19.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,192,325 shares of company stock worth $22,818,215. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC boosted its stake in Warner Bros. Discovery by 34.9% during the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock valued at $75,495,000 after purchasing an additional 1,820,249 shares during the last quarter. Bfsg LLC lifted its holdings in shares of Warner Bros. Discovery by 11.2% during the second quarter. Bfsg LLC now owns 156,906 shares of the company’s stock valued at $1,798,000 after purchasing an additional 15,786 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 29,882.6% during the second quarter. Penserra Capital Management LLC now owns 62,064 shares of the company’s stock valued at $710,000 after purchasing an additional 61,857 shares in the last quarter. Country Club Bank boosted its position in shares of Warner Bros. Discovery by 54.3% during the second quarter. Country Club Bank now owns 502,878 shares of the company’s stock valued at $5,683,000 after buying an additional 176,994 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Warner Bros. Discovery in the 2nd quarter worth about $4,089,000. 59.95% of the stock is currently owned by institutional investors.

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.