Warner Bros. Discovery (NASDAQ:WBD) Given New $15.00 Price Target at Citigroup

Warner Bros. Discovery (NASDAQ:WBD) had its price objective boosted by Citigroup from $13.00 to $15.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Macquarie lifted their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Bank of America reiterated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Trading Up 1.0 %

NASDAQ:WBD opened at $11.43 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market cap of $28.04 billion, a PE ratio of -2.50, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The company has a 50 day simple moving average of $10.36 and a two-hundred day simple moving average of $9.34.

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

Insiders Place Their Bets

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

Institutional Trading of Warner Bros. Discovery

A number of large investors have recently made changes to their positions in WBD. Colonial Trust Advisors increased its holdings in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after buying an additional 996 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. increased its holdings in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after buying an additional 1,940 shares during the last quarter. Graney & King LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $28,000. Finally, Ethos Financial Group LLC bought a new position in Warner Bros. Discovery during the 4th quarter valued at about $29,000. 59.95% of the stock is currently owned by institutional investors.

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.