Warner Bros. Discovery (NASDAQ:WBD) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Warner Bros. Discovery (NASDAQ:WBD – Get Rating) from an equal weight rating to an overweight rating in a research report released on Friday, Marketbeat.com reports. Wells Fargo & Company currently has $20.00 price objective on the stock, up from their prior price objective of $13.00.

A number of other analysts have also weighed in on WBD. Morgan Stanley raised their price objective on shares of Warner Bros. Discovery from $14.00 to $17.00 and gave the company an equal weight rating in a research note on Monday, January 30th. Macquarie raised their price target on shares of Warner Bros. Discovery from $16.00 to $20.00 and gave the company an outperform rating in a report on Tuesday, January 31st. Guggenheim raised shares of Warner Bros. Discovery from a neutral rating to a buy rating and set a $16.50 price target on the stock in a report on Wednesday, January 11th. Finally, Rosenblatt Securities raised their price target on shares of Warner Bros. Discovery from $9.00 to $11.00 and gave the company a sell rating in a report on Friday, February 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of Moderate Buy and a consensus price target of $22.31.

Warner Bros. Discovery Stock Up 1.3 %

NASDAQ:WBD traded up $0.18 on Friday, reaching $14.34. 32,003,231 shares of the stock traded hands, compared to its average volume of 21,522,535. The company has a market capitalization of $34.85 billion, a price-to-earnings ratio of -5.47, a PEG ratio of 0.97 and a beta of 1.50. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.01. Warner Bros. Discovery has a 12 month low of $8.82 and a 12 month high of $27.50. The company’s fifty day simple moving average is $14.46 and its 200 day simple moving average is $12.56.

Hedge Funds Weigh In On Warner Bros. Discovery

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Warner Bros. Discovery by 40.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,501,106 shares of the company’s stock valued at $14,230,000 after purchasing an additional 432,084 shares in the last quarter. Lakewood Asset Management LLC purchased a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $1,070,000. Voya Investment Management LLC raised its position in shares of Warner Bros. Discovery by 1.5% during the fourth quarter. Voya Investment Management LLC now owns 1,294,344 shares of the company’s stock valued at $12,270,000 after buying an additional 19,712 shares during the last quarter. Natixis raised its position in shares of Warner Bros. Discovery by 75.9% during the fourth quarter. Natixis now owns 809,516 shares of the company’s stock valued at $7,636,000 after buying an additional 349,351 shares during the last quarter. Finally, CVA Family Office LLC raised its position in shares of Warner Bros. Discovery by 55.4% during the fourth quarter. CVA Family Office LLC now owns 3,449 shares of the company’s stock valued at $33,000 after buying an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 55.18% of the company’s stock.

About Warner Bros. Discovery

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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.