Needham & Company LLC Reaffirms "Hold" Rating for Warner Bros. Discovery (NASDAQ:WBD)

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

A number of other research firms have also recently issued reports on WBD. Raymond James increased their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Rosenblatt Securities upped their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and lifted their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Finally, Macquarie lifted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.75.

Warner Bros. Discovery Trading Up 2.7 %

WBD traded up $0.30 during midday trading on Friday, reaching $11.32. 45,764,772 shares of the company were exchanged, compared to its average volume of 30,067,962. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $27.77 billion, a P/E ratio of -2.47, a PEG ratio of 8.64 and a beta of 1.49. The stock's 50-day simple moving average is $10.34 and its 200 day simple moving average is $9.31. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.30). The firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Savalle Sims sold 169,436 shares of the firm'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 transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Warner Bros. Discovery

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

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.