Sugar Maple Asset Management LLC Invests $33,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,139 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Hauser Brothers GmbH grew its position in Warner Bros. Discovery by 56.1% during the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after buying an additional 440,000 shares in the last quarter. Private Management Group Inc. increased its stake in Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares during the period. Erste Asset Management GmbH acquired a new position in Warner Bros. Discovery in the 3rd quarter valued at $1,474,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at $588,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Trading Up 2.6 %

Shares of NASDAQ WBD opened at $9.77 on Wednesday. The stock has a market cap of $23.97 billion, a P/E ratio of -2.13, a price-to-earnings-growth ratio of 5.73 and a beta of 1.50. The firm has a 50 day moving average price of $10.37 and a two-hundred day moving average price of $8.75. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the company earned ($0.17) EPS. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.32 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on WBD. JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Rosenblatt Securities boosted their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Barclays increased their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $9.00 to $13.00 in a research report on Tuesday. Finally, KeyCorp raised their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

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.