Warner Bros. Discovery’s (WBD) “Equal Weight” Rating Reiterated at Barclays

Warner Bros. Discovery (NASDAQ:WBD)‘s stock had its “equal weight” rating reissued by stock analysts at Barclays in a research note issued on Thursday, Benzinga reports. They presently have a $29.00 price target on the stock. Barclays‘s target price indicates a potential upside of 3.31% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Freedom Capital raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Seaport Research Partners downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Weiss Ratings upgraded shares of Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.22.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $28.07 on Thursday. The firm’s fifty day simple moving average is $27.35 and its 200-day simple moving average is $27.21. Warner Bros. Discovery has a 12 month low of $17.08 and a 12 month high of $30.00. The stock has a market capitalization of $70.48 billion, a price-to-earnings ratio of -22.10 and a beta of 1.57. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.20. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. Warner Bros. Discovery’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. As a group, equities analysts forecast that Warner Bros. Discovery will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Kenneth Lowe sold 200,000 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $28.23, for a total value of $5,646,000.00. Following the sale, the director owned 590,108 shares of the company’s stock, valued at approximately $16,658,748.84. This represents a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori Locke sold 29,115 shares of Warner Bros. Discovery stock in a transaction on Monday, September 14th. The stock was sold at an average price of $28.13, for a total value of $819,004.95. Following the transaction, the chief accounting officer directly owned 86,906 shares of the company’s stock, valued at $2,444,665.78. This trade represents a 25.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,782,149 shares of company stock valued at $77,455,972 in the last three months. 0.70% of the stock is owned by insiders.

Institutional Trading of Warner Bros. Discovery

Several institutional investors and hedge funds have recently modified their holdings of WBD. Venturi Wealth Management LLC raised its holdings in shares of Warner Bros. Discovery by 4.5% in the first quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock valued at $232,000 after purchasing an additional 367 shares during the last quarter. Krilogy Financial LLC boosted its holdings in Warner Bros. Discovery by 2.6% during the first quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock worth $406,000 after purchasing an additional 369 shares during the last quarter. Community Bank N.A. grew its position in Warner Bros. Discovery by 9.9% in the 2nd quarter. Community Bank N.A. now owns 4,170 shares of the company’s stock worth $111,000 after purchasing an additional 374 shares in the last quarter. Cromwell Holdings LLC grew its position in Warner Bros. Discovery by 7.6% in the 2nd quarter. Cromwell Holdings LLC now owns 5,467 shares of the company’s stock worth $146,000 after purchasing an additional 386 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its stake in Warner Bros. Discovery by 64.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock valued at $27,000 after buying an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc is a global media and entertainment company that develops, produces and distributes television, film and digital content. Its portfolio includes Warner Bros. film and television studios, HBO, CNN, Discovery, TLC, HGTV, Food Network, TNT Sports and other well-known brands.

The company operates streaming services including Max, which features HBO programming, Warner Bros. films, original series and other entertainment content, and discovery+, which focuses on lifestyle, documentary and nonfiction programming.