Warner Bros. Discovery (NASDAQ:WBD) Receives Sell Rating from Rosenblatt Securities

Rosenblatt Securities reiterated their sell rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research report released on Tuesday morning, Benzinga reports. Rosenblatt Securities currently has a $10.00 price objective on the stock.

WBD has been the subject of a number of other reports. Barrington Research raised shares of Warner Bros. Discovery from a market perform rating to an outperform rating and set a $18.00 price objective for the company in a research note on Tuesday, May 16th. Evercore ISI dropped their price objective on shares of Warner Bros. Discovery from $25.00 to $20.00 and set an outperform rating on the stock in a research note on Monday, July 24th. Wolfe Research lowered shares of Warner Bros. Discovery from an outperform rating to a peer perform rating in a report on Friday, July 7th. Morgan Stanley restated an equal weight rating and set a $15.00 target price on shares of Warner Bros. Discovery in a report on Friday, August 4th. Finally, Barclays lifted their price target on Warner Bros. Discovery from $14.00 to $15.00 and gave the company an equal weight rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of Moderate Buy and a consensus target price of $20.66.

Warner Bros. Discovery Trading Up 0.7 %

Shares of WBD opened at $11.64 on Tuesday. Warner Bros. Discovery has a twelve month low of $8.82 and a twelve month high of $16.34. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $12.90 and its 200-day simple moving average is $13.35. The company has a market cap of $28.37 billion, a P/E ratio of -4.22 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, August 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.12). Warner Bros. Discovery had a negative net margin of 16.04% and a positive return on equity of 1.27%. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter last year, the firm earned ($0.11) EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Warner Bros. Discovery will post -1.01 EPS for the current year.

Insider Activity

In other news, insider Gerhard Zeiler bought 38,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $14.09 per share, with a total value of $535,420.00. Following the completion of the acquisition, the insider now directly owns 329,032 shares of the company’s stock, valued at approximately $4,636,060.88. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors have recently modified their holdings of the stock. Portside Wealth Group LLC acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $472,000. Eubel Brady & Suttman Asset Management Inc. grew its position in Warner Bros. Discovery by 1.5% during the second quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,074,531 shares of the company’s stock valued at $26,015,000 after buying an additional 30,190 shares during the period. Rehmann Capital Advisory Group increased its holdings in Warner Bros. Discovery by 10.6% in the second quarter. Rehmann Capital Advisory Group now owns 29,408 shares of the company’s stock valued at $369,000 after buying an additional 2,829 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth about $354,000. Finally, New South Capital Management Inc. grew its position in shares of Warner Bros. Discovery by 0.3% during the 2nd quarter. New South Capital Management Inc. now owns 3,370,502 shares of the company’s stock valued at $42,266,000 after acquiring an additional 10,764 shares during the period. Hedge funds and other institutional investors own 58.26% of the company’s stock.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.