Rosenblatt Securities Reaffirms Neutral Rating for Warner Bros. Discovery (NASDAQ:WBD)

Rosenblatt Securities restated their neutral rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report released on Friday morning,Benzinga reports. The firm currently has a $13.00 target price on the stock.

A number of other analysts have also weighed in on WBD. Guggenheim increased their price objective 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. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Citigroup raised their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday. Macquarie raised their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Stock Up 3.5 %

NASDAQ:WBD opened at $11.07 on Friday. The firm has a market capitalization of $27.16 billion, a P/E ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The company’s fifty day moving average price is $10.38 and its 200-day moving average price is $9.36. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data 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). The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. As a group, equities research analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently modified their holdings of the business. Colonial Trust Advisors lifted its stake in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after buying an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Warner Bros. Discovery during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. raised its stake in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new position in Warner Bros. Discovery during the fourth quarter worth about $28,000. Finally, Ethos Financial Group LLC purchased a new position in Warner Bros. Discovery during the fourth quarter worth about $29,000. 59.95% of the stock is owned by hedge funds and other 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.