Warner Bros. Discovery (NASDAQ:WBD) Shares Gap Up to $14.16

Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) shares gapped up before the market opened on Friday . The stock had previously closed at $14.16, but opened at $14.76. Warner Bros. Discovery shares last traded at $14.60, with a volume of 5,154,191 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on WBD. Morgan Stanley raised their price target on Warner Bros. Discovery from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, January 30th. Wolfe Research upgraded Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Friday. Rosenblatt Securities lifted their target price on Warner Bros. Discovery from $9.00 to $11.00 and gave the company a “sell” rating in a report on Friday, February 24th. Macquarie lifted their target price on Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. Finally, Guggenheim upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 target price for the company in a report on Wednesday, January 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

Warner Bros. Discovery Price Performance

The stock has a market cap of $34.85 billion, a price-to-earnings ratio of -5.47, a PEG ratio of 0.94 and a beta of 1.50. The company has a 50-day moving average of $14.46 and a 200-day moving average of $12.55. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.93 and a current ratio of 0.93.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors have recently added to or reduced their stakes in WBD. Country Trust Bank purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at approximately $25,000. JCIC Asset Management Inc. purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $25,000. Peoples Financial Services CORP. purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $25,000. Heritage Wealth Management LLC boosted its stake in shares of Warner Bros. Discovery by 170.7% during the 4th quarter. Heritage Wealth Management LLC now owns 2,634 shares of the company’s stock worth $25,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $26,000. Institutional investors and hedge funds own 55.18% of the company’s stock.

Warner Bros. Discovery Company Profile

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Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.