Warner Bros. Discovery (NASDAQ:WBD) Given “Outperform” Rating at Barrington Research

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $16.00 price target on the stock. Barrington Research’s price target suggests a potential upside of 36.81% from the stock’s previous close.

A number of other equities research analysts also recently commented on WBD. The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Rosenblatt Securities boosted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Guggenheim increased their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Finally, Bank of America reissued a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Trading Up 11.4 %

NASDAQ:WBD traded up $1.20 on Thursday, reaching $11.70. The company’s stock had a trading volume of 54,534,643 shares, compared to its average volume of 29,067,912. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70. 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 firm has a market cap of $28.69 billion, a price-to-earnings ratio of -2.56, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The stock has a 50 day moving average price of $10.31 and a 200 day moving average price of $9.20.

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 net margin of 28.34% and a negative return on equity of 27.56%. On average, equities analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in Warner Bros. Discovery during the 4th quarter worth approximately $362,210,000. Contrarius Group Holdings Ltd purchased a new position in Warner Bros. Discovery during the 4th quarter worth approximately $168,930,000. FMR LLC grew its stake in Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company’s stock worth $150,925,000 after buying an additional 11,810,191 shares during the last quarter. Slate Path Capital LP grew its stake in Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after buying an additional 6,381,000 shares during the last quarter. Finally, Sachem Head Capital Management LP purchased a new position in Warner Bros. Discovery during the 4th quarter worth approximately $64,847,000. Hedge funds and other 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.