Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $26.00

Warner Bros. Discovery (NASDAQ:WBD) had its price objective boosted by Moffett Nathanson from $23.00 to $26.00 in a research report released on Friday,MarketScreener reports. Moffett Nathanson currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley raised their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Barrington Research lifted their price objective on shares of Warner Bros. Discovery from $16.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. UBS Group raised their target price on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average price target of $21.70.

Warner Bros. Discovery Stock Up 1.1%

Shares of NASDAQ:WBD opened at $22.67 on Friday. The company has a 50-day moving average price of $18.44 and a 200 day moving average price of $13.50. Warner Bros. Discovery has a 12 month low of $7.52 and a 12 month high of $23.06. The company has a market cap of $56.13 billion, a price-to-earnings ratio of 75.57, a PEG ratio of 2.56 and a beta of 1.74. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm 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 company’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. As a group, equities research analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Activity

In related news, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the transaction, the insider directly owned 402,464 shares in the company, valued at $6,632,606.72. The trade was a 41.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anton J. Levy purchased 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the transaction, the director owned 949,000 shares of the company’s stock, valued at $10,439,000. This trade represents a 8.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 1,192,325 shares of company stock valued at $22,818,215 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors and hedge funds have recently modified their holdings of WBD. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $26,000. Concord Wealth Partners lifted its position in shares of Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after buying an additional 440 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery in the 1st quarter valued at about $27,000. Physician Wealth Advisors Inc. boosted its holdings in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after buying an additional 847 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in Warner Bros. Discovery during the 2nd quarter worth approximately $29,000. Hedge funds and other 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.