Warner Bros. Discovery (NASDAQ:WBD) Given New $27.75 Price Target at Sanford C. Bernstein

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) had its price objective hoisted by equities research analysts at Sanford C. Bernstein from $23.50 to $27.75 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “market perform” rating on the stock. Sanford C. Bernstein’s price objective suggests a potential downside of 4.29% from the company’s current price.

Several other research analysts also recently issued reports on WBD. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Moffett Nathanson raised their price objective on shares of Warner Bros. Discovery from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Benchmark boosted their target price on shares of Warner Bros. Discovery from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Barrington Research cut shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Wells Fargo & Company upped their price target on Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.30.

Check Out Our Latest Stock Analysis on Warner Bros. Discovery

Warner Bros. Discovery Trading Up 0.3%

NASDAQ:WBD opened at $29.00 on Tuesday. Warner Bros. Discovery has a 12 month low of $7.52 and a 12 month high of $30.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $71.85 billion, a P/E ratio of 152.46 and a beta of 1.64. The firm has a fifty day simple moving average of $28.32 and a 200-day simple moving average of $22.32.

Insider Activity at Warner Bros. Discovery

In other news, CAO Lori C. Locke sold 4,122 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total transaction of $119,208.24. Following the completion of the transaction, the chief accounting officer directly owned 100,962 shares in the company, valued at $2,919,821.04. This represents a 3.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the transaction, the chief financial officer directly owned 918,940 shares in the company, valued at $27,108,730. This trade represents a 20.91% decrease in their position. 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 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Stone Wealth Partners acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $1,236,000. MV Capital Management Inc. bought a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $30,000. Compound Planning Inc. grew its holdings in shares of Warner Bros. Discovery by 64.4% in the fourth quarter. Compound Planning Inc. now owns 25,241 shares of the company’s stock valued at $727,000 after acquiring an additional 9,886 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Warner Bros. Discovery by 33.4% during the fourth quarter. Corient Private Wealth LLC now owns 335,890 shares of the company’s stock worth $9,680,000 after acquiring an additional 84,037 shares during the period. Finally, Ameriflex Group Inc. increased its position in Warner Bros. Discovery by 22.8% in the fourth quarter. Ameriflex Group Inc. now owns 3,108 shares of the company’s stock worth $90,000 after buying an additional 578 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

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About Warner Bros. Discovery

(Get Free Report)

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.

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