Warner Bros. Discovery (NASDAQ:WBD) Rating Increased to Buy at Moffett Nathanson

Warner Bros. Discovery (NASDAQ:WBD) was upgraded by equities researchers at Moffett Nathanson from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $13.00 price objective on the stock, up from their prior price objective of $9.00. Moffett Nathanson’s price target indicates a potential upside of 32.60% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Bank of America restated a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Raymond James raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, KeyCorp upped their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Stock Up 3.0 %

Shares of WBD traded up $0.28 during trading hours on Tuesday, reaching $9.80. The stock had a trading volume of 1,917,341 shares, compared to its average volume of 24,762,621. The firm has a 50-day simple moving average of $10.37 and a 200 day simple moving average of $8.75. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $24.05 billion, a price-to-earnings ratio of -2.13, a P/E/G ratio of 5.73 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations 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 business’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. Equities research analysts predict that Warner Bros. Discovery will post -4.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total value 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 trade represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

Several institutional investors and hedge funds have recently bought and sold shares of WBD. Principal Financial Group Inc. lifted its position in Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after acquiring an additional 78,653 shares during the period. Hauser Brothers GmbH boosted its stake in Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after purchasing an additional 440,000 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH bought a new position in Warner Bros. Discovery in the 3rd quarter valued at approximately $1,474,000. Finally, Blueshift Asset Management LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at $588,000. 59.95% of the stock is currently owned by hedge funds and other 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.