Warner Bros. Discovery (NASDAQ:WBD) Given New $10.00 Price Target at JPMorgan Chase & Co.

Warner Bros. Discovery (NASDAQ:WBD) had its price objective increased by JPMorgan Chase & Co. from $9.00 to $10.00 in a research report sent to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Rosenblatt Securities increased their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Barclays raised their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Raymond James boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Guggenheim upped their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.56.

Warner Bros. Discovery Stock Down 1.1 %

Shares of Warner Bros. Discovery stock opened at $9.73 on Tuesday. The company has a fifty day moving average price of $10.33 and a 200 day moving average price of $8.69. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of -2.12 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Equities research analysts forecast that Warner Bros. Discovery will post -4.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently bought and sold shares of WBD. State Street Corp lifted its holdings in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. increased its position in Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. lifted its stake in Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after buying an additional 541,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after acquiring an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock worth $129,405,000 after acquiring an additional 687,612 shares during 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.