Spire Wealth Management Has $989,000 Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Spire Wealth Management grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 243.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,143 shares of the company's stock after buying an additional 65,320 shares during the period. Spire Wealth Management's holdings in Warner Bros. Discovery were worth $989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after acquiring an additional 51,920 shares in the last quarter. Wealthspire Advisors LLC boosted its stake in Warner Bros. Discovery by 8.5% in the 4th quarter. Wealthspire Advisors LLC now owns 22,216 shares of the company's stock worth $235,000 after purchasing an additional 1,749 shares during the period. IFP Advisors Inc boosted its stake in Warner Bros. Discovery by 124.8% in the 4th quarter. IFP Advisors Inc now owns 58,714 shares of the company's stock worth $624,000 after purchasing an additional 32,592 shares during the period. Los Angeles Capital Management LLC boosted its stake in Warner Bros. Discovery by 1,586.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 187,526 shares of the company's stock worth $1,982,000 after purchasing an additional 176,408 shares during the period. Finally, Heritage Investors Management Corp boosted its stake in Warner Bros. Discovery by 5.8% in the 4th quarter. Heritage Investors Management Corp now owns 69,514 shares of the company's stock worth $735,000 after purchasing an additional 3,786 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research analyst reports. Citigroup reduced their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Huber Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Wells Fargo & Company raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Finally, Barclays raised their target price on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.17.

Warner Bros. Discovery Price Performance

WBD stock opened at $11.30 on Friday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company's fifty day moving average price is $9.50 and its 200-day moving average price is $9.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $27.74 billion, a PE ratio of -2.57 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The company had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $9.66 billion. During the same period last year, the firm posted ($0.40) EPS. Warner Bros. Discovery's quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.

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