Warner Bros. Discovery (NASDAQ:WBD) Receives Buy Rating from Benchmark

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “buy” rating reiterated by research analysts at Benchmark in a note issued to investors on Wednesday,Benzinga reports. They currently have a $18.00 price objective on the stock. Benchmark’s price objective suggests a potential upside of 67.63% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. KeyCorp lifted 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. Guggenheim boosted their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays raised their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Stock Up 0.4 %

Warner Bros. Discovery stock opened at $10.74 on Wednesday. The company has a market capitalization of $26.34 billion, a PE ratio of -2.34, a price-to-earnings-growth 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. Warner Bros. Discovery has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a 50 day moving average price of $10.31 and a 200 day moving average price of $9.19.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Warner Bros. Discovery by 3.1% during the third 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 increased its position in shares of Warner Bros. Discovery by 56.1% during the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after purchasing an additional 440,000 shares during the period. Private Management Group Inc. raised its stake in shares of Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares in the last quarter. Erste Asset Management GmbH bought a new position in Warner Bros. Discovery during the third quarter valued at about $1,474,000. Finally, Blueshift Asset Management LLC acquired a new position in Warner Bros. Discovery during the third quarter worth about $588,000. Institutional investors and hedge funds 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.