Moffett Nathanson Issues Positive Forecast for Warner Bros. Discovery (NASDAQ:WBD) Stock Price

Key Points

• Moffett Nathanson has increased the price target for Warner Bros. Discovery from $14.00 to $23.00, suggesting a potential upside of 19.26%.
• The stock has a consensus rating of "Hold" with an average price target of $13.96, according to MarketBeat.com, indicating mixed sentiments from analysts.
• Insider transactions reveal significant sales, with Bruce Campbell and CFO Gunnar Wiedenfels selling large amounts of stock, contributing to a total of 970,115 shares sold worth nearly $17.8 million over the last quarter.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) had its target price boosted by stock analysts at Moffett Nathanson from $14.00 to $23.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage presently has a "buy" rating on the stock. Moffett Nathanson's target price would indicate a potential upside of 17.14% from the stock's previous close.

Several other research firms have also commented on WBD. Barclays boosted their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Morgan Stanley boosted their target price on Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Raymond James Financial dropped their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. TD Cowen restated a "hold" rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Finally, Wells Fargo & Company boosted their target price on Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $13.96.

Warner Bros. Discovery Trading Up 1.6%

WBD traded up $0.31 during trading hours on Monday, reaching $19.64. 55,365,877 shares of the company's stock traded hands, compared to its average volume of 84,631,760. The firm has a 50-day moving average price of $13.28 and a 200 day moving average price of $10.98. Warner Bros. Discovery has a 52-week low of $7.25 and a 52-week high of $19.70. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $48.61 billion, a PE ratio of 65.45, a PEG ratio of 2.58 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted ($4.07) EPS. As a group, sell-side analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, Director Anton J. Levy bought 250,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the acquisition, the director owned 874,000 shares in the company, valued at approximately $9,526,600. This trade represents a 40.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the sale, the chief financial officer directly owned 1,141,150 shares of the company's stock, valued at $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 970,115 shares of company stock worth $17,818,490. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its position in Warner Bros. Discovery by 90.7% in the 2nd quarter. Osaic Holdings Inc. now owns 640,286 shares of the company's stock valued at $7,335,000 after acquiring an additional 304,575 shares during the period. Orion Porfolio Solutions LLC increased its position in Warner Bros. Discovery by 8.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 30,988 shares of the company's stock valued at $355,000 after acquiring an additional 2,526 shares during the period. Thrivent Financial for Lutherans increased its position in Warner Bros. Discovery by 52.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 6,963,870 shares of the company's stock valued at $79,805,000 after acquiring an additional 2,407,202 shares during the period. Marex Group plc acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at about $235,000. Finally, State of Wyoming acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at about $2,365,000. Institutional investors and hedge funds 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.