Warner Bros. Discovery (NASDAQ:WBD) Shares Gap Up – What’s Next?

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $10.50, but opened at $11.28. Warner Bros. Discovery shares last traded at $11.16, with a volume of 14,466,218 shares.

Analyst Ratings Changes

WBD has been the topic of several recent analyst reports. Guggenheim lifted their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday. Barclays upped their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Raymond James upped their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Macquarie boosted 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 eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Stock Performance

The company has a market capitalization of $28.03 billion, a PE ratio of -2.51, a PEG ratio of 8.64 and a beta of 1.49. The business’s 50-day moving average is $10.31 and its 200-day moving average is $9.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results 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). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In other Warner Bros. Discovery news, 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 value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AMF Tjanstepension AB acquired a new position in Warner Bros. Discovery in the third quarter valued at approximately $1,031,000. Allspring Global Investments Holdings LLC increased its holdings in Warner Bros. Discovery by 1.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 107,240 shares of the company’s stock worth $885,000 after purchasing an additional 1,651 shares during the period. International Assets Investment Management LLC raised its position in Warner Bros. Discovery by 629.4% in the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after purchasing an additional 163,295 shares in the last quarter. Forsta AP Fonden boosted its stake in shares of Warner Bros. Discovery by 11.8% in the 3rd quarter. Forsta AP Fonden now owns 489,569 shares of the company’s stock valued at $4,039,000 after buying an additional 51,500 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Warner Bros. Discovery by 55.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 614,390 shares of the company’s stock worth $5,079,000 after buying an additional 218,270 shares in the last quarter. 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.