Warner Bros. Discovery, Inc. (NASDAQ:WBD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) have received an average rating of “Moderate Buy” from the twenty-four ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $24.9375.

A number of equities analysts recently issued reports on WBD shares. Morgan Stanley set a $29.00 price objective on Warner Bros. Discovery in a report on Thursday, December 18th. Sanford C. Bernstein lifted their price target on shares of Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday, November 7th. Rothschild & Co Redburn set a $28.00 price objective on Warner Bros. Discovery in a report on Thursday, October 30th. Barrington Research cut Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Singular Research upgraded shares of Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd.

Warner Bros. Discovery Trading Down 0.4%

Warner Bros. Discovery stock opened at $27.99 on Friday. Warner Bros. Discovery has a 1 year low of $7.52 and a 1 year high of $30.00. The firm’s 50-day moving average is $28.37 and its 200-day moving average is $21.59. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $69.36 billion, a P/E ratio of 147.32 and a beta of 1.64.

Insiders Place Their Bets

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the transaction, the chief financial officer owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lori C. Locke sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the transaction, the chief accounting officer directly owned 110,084 shares of the company’s stock, valued at $3,040,520.08. The trade was a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 267,116 shares of company stock worth $7,781,731 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Institutional investors have recently modified their holdings of the stock. Concord Wealth Partners raised its stake in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 440 shares during the period. Swiss RE Ltd. acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $26,000. Physician Wealth Advisors Inc. lifted its stake in Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after buying an additional 847 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Warner Bros. Discovery during the second quarter worth $29,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $29,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.