Wealthspire Advisors LLC Buys 1,749 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wealthspire Advisors LLC raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,216 shares of the company’s stock after purchasing an additional 1,749 shares during the quarter. Wealthspire Advisors LLC’s holdings in Warner Bros. Discovery were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $33,000. New Wave Wealth Advisors LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $37,000. Larson Financial Group LLC boosted its stake in shares of Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after acquiring an additional 1,754 shares during the period. Finally, Rosenberg Matthew Hamilton boosted 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 acquiring an additional 3,743 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WBD has been the subject of several research reports. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Macquarie lifted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Raymond James boosted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Guggenheim boosted their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Stock Up 4.8 %

WBD stock opened at $11.00 on Friday. The stock’s 50 day simple moving average is $10.31 and its 200 day simple moving average is $9.20. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $26.98 billion, a P/E ratio of -2.40, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.