Brokerages Set Warner Bros. Discovery, Inc. (NASDAQ:WBD) PT at $11.75

Warner Bros. Discovery, Inc. (NASDAQ:WBD) has been assigned an average rating of “Moderate Buy” from the twenty-one research firms that are covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $11.91.

Several equities analysts have recently commented on the stock. Bank of America reaffirmed a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Citigroup increased their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th.

Warner Bros. Discovery Stock Up 3.5 %

Shares of Warner Bros. Discovery stock opened at $11.07 on Friday. The business has a 50-day moving average of $10.39 and a 200-day moving average of $9.38. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $27.16 billion, a PE ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. As a group, equities analysts forecast that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WBD. International Assets Investment Management LLC lifted its holdings in Warner Bros. Discovery by 629.4% in the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after buying an additional 163,295 shares during the period. State of Alaska Department of Revenue boosted its holdings in Warner Bros. Discovery by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 260,070 shares of the company’s stock worth $2,145,000 after purchasing an additional 17,590 shares during the last quarter. abrdn plc lifted its stake in Warner Bros. Discovery by 29.2% in the 3rd quarter. abrdn plc now owns 778,372 shares of the company’s stock valued at $6,316,000 after purchasing an additional 175,895 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in Warner Bros. Discovery by 17.4% during the third quarter. First Trust Direct Indexing L.P. now owns 46,058 shares of the company’s stock worth $380,000 after buying an additional 6,826 shares during the last quarter. Finally, First Interstate Bank acquired a new position in Warner Bros. Discovery during the third quarter worth approximately $97,000. 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.