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

Moffett Nathanson upgraded shares of Warner Bros. Discovery (NASDAQ:WBD) from a neutral rating to a buy rating in a research note published on Tuesday morning, MarketBeat.com reports. The firm currently has $13.00 target price on the stock, up from their previous target price of $9.00.

Other research analysts have also issued research reports about the stock. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research note on Friday, December 13th. KeyCorp raised their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Barclays raised their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their target price on shares of 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 raised their target price on shares of 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 stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $9.77 on Tuesday. The company’s fifty day moving average is $10.37 and its 200-day moving average is $8.75. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of -2.13, a price-to-earnings-growth ratio of 5.73 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 (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the business posted ($0.17) EPS. Warner Bros. Discovery’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts expect that Warner Bros. Discovery will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Savalle Sims sold 169,436 shares of the 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 transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The sale 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.

Hedge Funds Weigh In On Warner Bros. Discovery

Several large investors have recently modified their holdings of the stock. Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery during the fourth quarter worth about $33,000. Future Financial Wealth Managment LLC bought a new position in Warner Bros. Discovery during the third quarter worth about $41,000. Larson Financial Group LLC increased its position in Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after acquiring an additional 1,754 shares during the period. Quarry LP increased its position in Warner Bros. Discovery by 2,185.1% during the second quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after acquiring an additional 6,031 shares during the period. Finally, Rosenberg Matthew Hamilton increased its position in Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after acquiring an additional 3,743 shares during the period. 59.95% of the stock is owned by 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.