Spire Wealth Management Makes New $284,000 Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Spire Wealth Management acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,823 shares of the company’s stock, valued at approximately $284,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth $33,000. New Wave Wealth Advisors LLC purchased a new position in Warner Bros. Discovery during the fourth quarter worth $37,000. Future Financial Wealth Managment LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at about $41,000. Larson Financial Group LLC raised its holdings in Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after purchasing an additional 3,743 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WBD. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Barclays increased their target price 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. Finally, Raymond James lifted their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.76.

Insider Transactions at Warner Bros. Discovery

In other 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 sale, the insider now directly 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 document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $10.20 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market cap of $25.02 billion, a P/E ratio of -2.23, a price-to-earnings-growth ratio of 6.36 and a beta of 1.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company’s fifty day moving average is $10.46 and its two-hundred day moving average is $8.96.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the previous year, the business posted ($0.17) EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery 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.