Warner Bros. Discovery (NASDAQ:WBD) Trading Up 20.9% on Analyst Upgrade

Warner Bros. Discovery, Inc. (NASDAQ:WBD) shares were up 20.9% on Thursday after Wells Fargo & Company raised their price target on the stock from $13.00 to $14.00. Wells Fargo & Company currently has an equal weight rating on the stock. Warner Bros. Discovery traded as high as $13.50 and last traded at $15.16. Approximately 67,036,316 shares were traded during mid-day trading, an increase of 41% from the average daily volume of 47,403,480 shares. The stock had previously closed at $12.54.

Several other equities analysts have also recently commented on WBD. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Bank of America boosted their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, July 1st. Citigroup reduced their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Finally, Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.20.

Insider Transactions at Warner Bros. Discovery

In related news, Director Anton J. Levy bought 75,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, the director directly owned 949,000 shares in the company, valued at $10,439,000. This trade represents a 8.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently made changes to their positions in WBD. WPG Advisers LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $27,000. North Capital Inc. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $29,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $29,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 28.9%

The stock has a market capitalization of $40.03 billion, a P/E ratio of 53.90, a price-to-earnings-growth ratio of 1.67 and a beta of 1.59. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock’s fifty day moving average price is $12.24 and its two-hundred day moving average price is $10.60.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted ($4.07) EPS. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.