Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $15.00 at Citigroup

Warner Bros. Discovery (NASDAQ:WBD) had its price target boosted by investment analysts at Citigroup from $13.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 36.24% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Bank of America reaffirmed a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Barclays lifted their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Trading Down 2.7 %

NASDAQ WBD traded down $0.31 during trading hours on Wednesday, hitting $11.01. The company’s stock had a trading volume of 10,731,755 shares, compared to its average volume of 29,907,536. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market capitalization of $27.01 billion, a P/E ratio of -2.41, a PEG ratio of 8.64 and a beta of 1.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average of $10.36 and a 200 day moving average of $9.34.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Equities research analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Equity Partners lifted its position in shares of Warner Bros. Discovery by 6.5% in the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after buying an additional 986 shares during the last quarter. Colonial Trust Advisors lifted its holdings in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after purchasing an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in Warner Bros. Discovery by 7.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after purchasing an additional 1,101 shares during the period. Finally, Personal CFO Solutions LLC increased its holdings in shares of Warner Bros. Discovery by 2.8% in the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after purchasing an additional 1,174 shares during the last quarter. 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.