Warner Bros. Discovery’s (WBD) “Hold” Rating Reaffirmed at Needham & Company LLC

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports.

A number of other equities analysts also recently weighed in on the stock. Macquarie boosted their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Bank of America restated a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Barclays upped their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities upped their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Warner Bros. Discovery Trading Up 4.8 %

WBD stock opened at $11.00 on Friday. The business has a fifty day moving average price of $10.31 and a 200 day moving average price of $9.20. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $362,210,000. Contrarius Group Holdings Ltd bought a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $168,930,000. FMR LLC boosted its position in shares of Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock worth $150,925,000 after buying an additional 11,810,191 shares during the period. Slate Path Capital LP grew its holdings in shares of Warner Bros. Discovery by 36.6% during the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after buying an additional 6,381,000 shares in the last quarter. Finally, Sachem Head Capital Management LP acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at approximately $64,847,000. Institutional investors and hedge funds 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.