Warner Bros. Discovery (NASDAQ:WBD) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Warner Bros. Discovery (NASDAQ:WBD) in a research note released on Friday morning,Benzinga reports.

Other equities analysts also recently issued reports about the company. Huber Research raised Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, June 9th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Citigroup dropped their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Barclays raised their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Finally, Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $18.87 on Friday. Warner Bros. Discovery has a 1-year low of $7.25 and a 1-year high of $19.33. The company has a market capitalization of $46.72 billion, a P/E ratio of 62.90, a PEG ratio of 2.15 and a beta of 1.59. The business has a 50 day moving average price of $12.40 and a 200 day moving average price of $10.66. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period last year, the business posted ($4.07) EPS. Warner Bros. Discovery’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 289,322 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the sale, the insider owned 402,464 shares in the company, valued at $6,632,606.72. This trade represents a 41.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anton J. Levy acquired 250,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds have recently made changes to their positions in the business. WPG Advisers LLC acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth $27,000. North Capital Inc. acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth $29,000. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Warner Bros. Discovery during the second quarter worth $29,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Company Profile

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.