Needham & Company LLC Reaffirms Hold Rating for Warner Bros. Discovery (NASDAQ:WBD)

Needham & Company LLC reissued their hold rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research note published on Friday,Benzinga reports.

Other equities analysts have also issued reports about the company. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Raymond James raised their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays raised their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Benchmark reaffirmed a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.75.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $11.46 on Friday. The stock has a fifty day simple moving average of $10.32 and a two-hundred day simple moving average of $9.22. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market cap of $28.11 billion, a price-to-earnings ratio of -2.50, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. 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 (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of large investors have recently added to or reduced their stakes in the company. Golden State Equity Partners raised its position in Warner Bros. Discovery by 6.5% during the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after purchasing an additional 986 shares in the last quarter. Colonial Trust Advisors raised its position in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Warner Bros. Discovery by 12.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after buying an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Warner Bros. Discovery by 7.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after buying an additional 1,101 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its stake in shares of Warner Bros. Discovery by 2.8% during the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after buying an additional 1,174 shares during the last quarter. 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.