Arete Research Forecasts Strong Price Appreciation for Warner Bros. Discovery (NASDAQ:WBD) Stock

Warner Bros. Discovery (NASDAQ:WBD) had its target price lifted by equities research analysts at Arete Research from $30.00 to $35.00 in a report issued on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the stock. Arete Research’s price target would suggest a potential upside of 18.10% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Guggenheim upped their target price on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Sanford C. Bernstein lifted their price objective on Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Redburn Partners set a $28.00 price objective on Warner Bros. Discovery in a research note on Thursday, October 30th. Morgan Stanley increased their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Finally, Argus set a $28.00 price target on Warner Bros. Discovery in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.58.

Warner Bros. Discovery Trading Up 0.4%

Warner Bros. Discovery stock opened at $29.64 on Thursday. The business has a 50 day moving average price of $21.92 and a two-hundred day moving average price of $15.93. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery has a 12 month low of $7.52 and a 12 month high of $29.81. The stock has a market cap of $73.44 billion, a price-to-earnings ratio of 155.92, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities analysts forecast that Warner Bros. Discovery will post -4.33 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In related news, CAO Lori C. Locke sold 5,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $27.62, for a total transaction of $138,100.00. Following the transaction, the chief accounting officer owned 110,084 shares in the company, valued at $3,040,520.08. This represents a 4.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce Campbell sold 150,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares of the company’s stock, valued at $4,544,352. The trade was a 37.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 927,125 shares of company stock valued at $18,663,597 over the last ninety days. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Voya Investment Management LLC boosted its stake in Warner Bros. Discovery by 34.9% in the first quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock valued at $75,495,000 after acquiring an additional 1,820,249 shares during the last quarter. Bfsg LLC raised its position in shares of Warner Bros. Discovery by 11.2% during the 2nd quarter. Bfsg LLC now owns 156,906 shares of the company’s stock valued at $1,798,000 after acquiring an additional 15,786 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Warner Bros. Discovery by 29,882.6% in the 2nd quarter. Penserra Capital Management LLC now owns 62,064 shares of the company’s stock valued at $710,000 after purchasing an additional 61,857 shares during the period. Country Club Bank boosted its position in shares of Warner Bros. Discovery by 54.3% in the 2nd quarter. Country Club Bank now owns 502,878 shares of the company’s stock worth $5,683,000 after purchasing an additional 176,994 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Warner Bros. Discovery in the 2nd quarter worth $4,089,000. 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.