Insider Buying: Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Acquires 17,346 Shares of Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded up $0.12 during trading hours on Tuesday, reaching $11.14. 16,936,442 shares of the stock traded hands, compared to its average volume of 29,956,440. The stock has a 50 day simple moving average of $10.34 and a two-hundred day simple moving average of $9.31. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $27.32 billion, a price-to-earnings ratio of -2.42, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last released 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). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WBD shares. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Rosenblatt Securities increased their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Barclays upped their target price on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, The Goldman Sachs Group lifted 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 analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.75.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Colonial Trust Advisors grew its position in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after acquiring an additional 996 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after acquiring an additional 1,940 shares during the period. Graney & King LLC bought a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $28,000. Finally, Ethos Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Company Profile

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.