Warner Bros. Discovery (NASDAQ:WBD) Stock Rating Upgraded by Moffett Nathanson

Warner Bros. Discovery (NASDAQ:WBD) was upgraded by stock analysts at Moffett Nathanson from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has a $13.00 target price on the stock, up from their previous target price of $9.00. Moffett Nathanson’s target price indicates a potential upside of 29.35% from the stock’s previous close.

WBD has been the topic of a number of other research reports. Rosenblatt Securities increased their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Bank of America restated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.05 on Tuesday. The firm has a market capitalization of $24.65 billion, a PE ratio of -2.19, a price-to-earnings-growth ratio of 5.80 and a beta of 1.50. 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 has a 12-month low of $6.64 and a 12-month high of $12.70. The firm has a 50-day moving average price of $10.39 and a 200 day moving average price of $8.78.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company 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 firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. Research analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors and hedge funds have recently made changes to their positions in the stock. Perigon Wealth Management LLC raised its position in Warner Bros. Discovery by 21.1% during the fourth quarter. Perigon Wealth Management LLC now owns 18,541 shares of the company’s stock worth $196,000 after acquiring an additional 3,231 shares in the last quarter. Nilsine Partners LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $150,000. Parkside Investments LLC grew its stake in Warner Bros. Discovery by 297.9% in the 4th quarter. Parkside Investments LLC now owns 260,494 shares of the company’s stock valued at $2,753,000 after buying an additional 195,026 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Warner Bros. Discovery by 27.3% in the 4th quarter. Pacer Advisors Inc. now owns 363,983 shares of the company’s stock valued at $3,847,000 after acquiring an additional 78,123 shares during the period. Finally, KBC Group NV lifted its holdings in Warner Bros. Discovery by 1.5% during the 4th quarter. KBC Group NV now owns 912,747 shares of the company’s stock worth $9,648,000 after purchasing an additional 13,396 shares during 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.