Warner Bros. Discovery (NASDAQ:WBD) Given “Outperform” Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $16.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities raised their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Trading Up 4.8 %

WBD opened at $11.00 on Thursday. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The company has a market cap of $26.98 billion, a P/E ratio of -2.40, a PEG ratio of 8.64 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50-day simple moving average is $10.31 and its 200-day simple moving average is $9.20.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS 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 analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities research analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

Several hedge funds have recently modified their holdings of the business. AMF Tjanstepension AB acquired a new position in Warner Bros. Discovery during the third quarter worth $1,031,000. Allspring Global Investments Holdings LLC raised its holdings in Warner Bros. Discovery by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 107,240 shares of the company’s stock worth $885,000 after purchasing an additional 1,651 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Warner Bros. Discovery by 629.4% during the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after purchasing an additional 163,295 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Warner Bros. Discovery by 55.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 614,390 shares of the company’s stock worth $5,079,000 after purchasing an additional 218,270 shares during the last quarter. Finally, State of Alaska Department of Revenue raised 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. 59.95% of the stock is owned by institutional investors and hedge funds.

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.