Warner Bros. Discovery (NASDAQ:WBD) Trading 4.7% Higher

Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) rose 4.7% during trading on Friday . The company traded as high as $8.03 and last traded at $8.02. Approximately 3,754,549 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 29,222,098 shares. The stock had previously closed at $7.66.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. TD Cowen reduced their price target 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, August 8th. Barrington Research reiterated an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Trading Up 10.4 %

The company has a market cap of $20.74 billion, a PE ratio of -6.81 and a beta of 1.48. The stock’s 50 day moving average is $7.73 and its 200-day moving average is $7.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.51) EPS. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at $33,000. FinTrust Capital Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 56.3% in the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery in the first quarter worth about $27,000. First Financial Corp IN grew its holdings in shares of Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the last quarter. Finally, Family Firm Inc. bought a new position in shares of Warner Bros. Discovery in the second quarter worth about $26,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.