Warner Bros. Discovery (NASDAQ:WBD) Given New $24.00 Price Target at Seaport Global Securities

Warner Bros. Discovery (NASDAQ:WBD) had its price objective upped by Seaport Global Securities from $15.00 to $24.00 in a research note released on Friday,MarketScreener reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on WBD. Raymond James Financial upped their price objective on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. TD Cowen reiterated a “hold” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Cowen cut shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus target price of $15.14.

Warner Bros. Discovery Trading Down 1.3%

Shares of NASDAQ:WBD opened at $18.99 on Friday. The stock has a market capitalization of $47.01 billion, a PE ratio of 63.30, a P/E/G ratio of 2.46 and a beta of 1.73. Warner Bros. Discovery has a 1 year low of $7.25 and a 1 year high of $20.24. The firm has a fifty day moving average price of $14.45 and a 200 day moving average price of $11.53. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) 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 analysts’ expectations of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. Warner Bros. Discovery’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted ($4.07) earnings per share. Analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 150,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anton J. Levy bought 75,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average price of $11.00 per share, with a total value of $825,000.00. Following the purchase, the director owned 949,000 shares of the company’s stock, valued at $10,439,000. This trade represents a 8.58% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 970,115 shares of company stock worth $17,818,490. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WPG Advisers LLC bought a new position in Warner Bros. Discovery during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in Warner Bros. Discovery during the first quarter worth about $27,000. North Capital Inc. bought a new position in Warner Bros. Discovery during the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC bought a new position in Warner Bros. Discovery during the first quarter worth about $29,000. Finally, Financial Gravity Companies Inc. bought a new position in Warner Bros. Discovery during the second quarter worth about $29,000. Institutional investors 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.