Sagespring Wealth Partners LLC Makes New $168,000 Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sagespring Wealth Partners LLC bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,872 shares of the company’s stock, valued at approximately $168,000.

Other hedge funds also recently made changes to their positions in the company. Colonial Trust Advisors lifted its holdings in shares of Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its stake in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after buying an additional 1,940 shares during the last quarter. Graney & King LLC bought a new stake in Warner Bros. Discovery in the fourth quarter worth $28,000. Finally, Ethos Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $29,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 2.4 %

Shares of Warner Bros. Discovery stock opened at $8.11 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $19.91 billion, a PE ratio of -1.77, a P/E/G ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company’s fifty day simple moving average is $10.08 and its 200-day simple moving average is $9.74.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WBD. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Raymond James dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Citigroup upped their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Company 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.