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

Spire Wealth Management lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 243.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,143 shares of the company's stock after acquiring an additional 65,320 shares during the quarter. Spire Wealth Management's holdings in Warner Bros. Discovery were worth $989,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in WBD. Vanguard Group Inc. raised its holdings in Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after acquiring an additional 1,658,415 shares during the period. Geode Capital Management LLC grew its position in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after purchasing an additional 1,991,441 shares during the last quarter. Norges Bank bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $362,210,000. Slate Path Capital LP lifted its position in shares of Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after purchasing an additional 6,381,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Warner Bros. Discovery by 7.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock valued at $249,545,000 after purchasing an additional 1,725,775 shares during the period. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD traded down $0.52 during trading hours on Tuesday, reaching $10.94. The company had a trading volume of 87,998,015 shares, compared to its average volume of 36,188,332. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average of $9.63 and a two-hundred day moving average of $9.93. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm has a market capitalization of $26.86 billion, a PE ratio of -2.49 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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). The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.40) EPS. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on WBD shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Barclays boosted 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 research report on Friday, May 9th. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Wells Fargo & Company raised their price target 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. Finally, Citigroup dropped their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.28.

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.