Warner Bros. Discovery (NASDAQ:WBD) Trading Up 1.4%

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s share price was up 1.4% on Wednesday . The company traded as high as $7.45 and last traded at $7.30. Approximately 6,266,931 shares traded hands during trading, a decline of 77% from the average daily volume of 27,819,936 shares. The stock had previously closed at $7.20.

Analysts Set New Price Targets

A number of research analysts have weighed in on WBD shares. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Sanford C. Bernstein cut their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Benchmark reaffirmed a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, June 17th. Finally, KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.82.

Warner Bros. Discovery Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50 day simple moving average is $7.76 and its two-hundred day simple moving average is $8.98.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. Warner Bros. Discovery’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 earnings per share. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

Institutional Trading of Warner Bros. Discovery

Several hedge funds have recently modified their holdings of the stock. First Hawaiian Bank grew its stake in shares of Warner Bros. Discovery by 3.1% during the second quarter. First Hawaiian Bank now owns 56,830 shares of the company’s stock valued at $423,000 after purchasing an additional 1,713 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of Warner Bros. Discovery by 26.5% during the first quarter. Cetera Advisors LLC now owns 89,301 shares of the company’s stock valued at $780,000 after purchasing an additional 18,699 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Warner Bros. Discovery by 356.6% during the first quarter. Cetera Investment Advisers now owns 498,545 shares of the company’s stock valued at $4,352,000 after purchasing an additional 389,366 shares during the last quarter. Swedbank AB bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $9,897,000. Finally, LRI Investments LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $39,000. 59.95% of the stock is 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.