Sagespring Wealth Partners LLC Sells 3,103 Shares of Warner Bros. Discovery, Inc. $WBD

Sagespring Wealth Partners LLC lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,193 shares of the company’s stock after selling 3,103 shares during the period. Sagespring Wealth Partners LLC’s holdings in Warner Bros. Discovery were worth $243,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Warner Bros. Discovery by 1.7% during the first quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock worth $2,755,679,000 after acquiring an additional 4,169,240 shares in the last quarter. Invesco Ltd. raised its stake in Warner Bros. Discovery by 2.1% in the first quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock valued at $465,052,000 after buying an additional 873,869 shares during the period. Sessa Capital IM L.P. raised its stake in Warner Bros. Discovery by 4.0% in the first quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock valued at $317,128,000 after buying an additional 1,144,849 shares during the period. The Manufacturers Life Insurance Company raised its stake in Warner Bros. Discovery by 4.5% in the first quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company’s stock valued at $264,734,000 after buying an additional 1,063,535 shares during the period. Finally, Northern Trust Corp raised its stake in Warner Bros. Discovery by 1.9% in the first quarter. Northern Trust Corp now owns 23,427,661 shares of the company’s stock valued at $251,379,000 after buying an additional 430,787 shares during the period. Institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anton J. Levy acquired 250,000 shares of the stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 970,115 shares of company stock worth $17,818,490 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $18.19 on Friday. The firm has a market cap of $45.03 billion, a P/E ratio of 60.64, a price-to-earnings-growth ratio of 2.22 and a beta of 1.73. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $20.24. The business’s 50 day moving average is $15.52 and its 200-day moving average is $12.05.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the company earned ($4.07) earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on WBD shares. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Guggenheim upped their price objective on Warner Bros. Discovery from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Morgan Stanley upped their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, September 25th. Bank of America increased their target price on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Finally, Barrington Research reiterated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average price target of $17.00.

About Warner Bros. Discovery

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.