Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $11.76 Average Target Price from Analysts

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have been given a consensus recommendation of “Moderate Buy” by the twenty-one analysts that are currently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.76.

Several research analysts have recently weighed in on the stock. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Raymond James boosted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Rosenblatt Securities raised their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st.

Warner Bros. Discovery Stock Down 1.3 %

Shares of WBD stock opened at $9.85 on Wednesday. The firm’s fifty day moving average price is $10.43 and its two-hundred day moving average price is $9.01. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a 1 year low of $6.64 and a 1 year high of $12.70. The firm has a market capitalization of $24.16 billion, a P/E ratio of -2.15, a PEG ratio of 7.98 and a beta of 1.49.

Insider Activity

In related 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers grew its stake in Warner Bros. Discovery by 8.3% during the second quarter. Cetera Investment Advisers now owns 540,002 shares of the company’s stock worth $4,018,000 after purchasing an additional 41,457 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $1,297,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $1,674,000. AMF Tjanstepension AB bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at $1,031,000. Finally, Czech National Bank lifted its position in shares of Warner Bros. Discovery by 7.0% during the 3rd quarter. Czech National Bank now owns 454,526 shares of the company’s stock valued at $3,750,000 after acquiring an additional 29,620 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.