Warner Bros. Discovery (NASDAQ:WBD) Stock Price Up 6.8% – Still a Buy?

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) rose 6.8% during mid-day trading on Wednesday . The company traded as high as $9.89 and last traded at $9.85. Approximately 31,720,379 shares were traded during trading, an increase of 8% from the average daily volume of 29,266,477 shares. The stock had previously closed at $9.22.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Raymond James upped their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Evercore ISI decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Price Performance

The stock’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $7.86. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Management Group Inc. grew its position in shares of Warner Bros. Discovery by 37.7% in the 3rd 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 during the last quarter. Principal Financial Group Inc. boosted its holdings in Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Mackenzie Financial Corp increased its position in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after purchasing an additional 2,780,986 shares during the period. International Assets Investment Management LLC lifted its position in shares of Warner Bros. Discovery by 629.4% in the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after purchasing an additional 163,295 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Warner Bros. Discovery by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after purchasing an additional 105,321 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

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.