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

Spire Wealth Management acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,823 shares of the company's stock, valued at approximately $284,000.

A number of other institutional investors have also bought and sold shares of WBD. Cetera Investment Advisers grew its stake in shares of Warner Bros. Discovery by 8.3% in the 2nd quarter. Cetera Investment Advisers now owns 540,002 shares of the company's stock valued at $4,018,000 after buying an additional 41,457 shares during the period. Sanctuary Advisors LLC acquired a new position in Warner Bros. Discovery during the second quarter worth $1,297,000. AMF Tjanstepension AB bought a new position in shares of Warner Bros. Discovery in the third quarter valued at $1,031,000. Czech National Bank raised its stake in shares of Warner Bros. Discovery by 7.0% in the third quarter. Czech National Bank now owns 454,526 shares of the company's stock worth $3,750,000 after purchasing an additional 29,620 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Warner Bros. Discovery by 121.7% during the 3rd quarter. GAMMA Investing LLC now owns 31,501 shares of the company's stock valued at $260,000 after acquiring an additional 17,295 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Trading Down 1.8 %

Shares of NASDAQ:WBD traded down $0.18 on Monday, reaching $9.98. 25,178,271 shares of the company traded hands, compared to its average volume of 26,019,652. The stock has a market capitalization of $24.48 billion, a P/E ratio of -2.18, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business's 50-day simple moving average is $10.44 and its 200 day simple moving average is $9.00. 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 (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the firm earned ($0.17) EPS. The company's revenue was down 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays lifted their target price on shares of 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. Wolfe Research raised Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a report on Monday, November 11th. Guggenheim lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Finally, Rosenblatt Securities increased their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $11.76.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the business's 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 transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.