GABELLI & Co INVESTMENT ADVISERS INC. Boosts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 147.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,302 shares of the company’s stock after purchasing an additional 34,115 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Warner Bros. Discovery were worth $606,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after buying an additional 78,653 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in Warner Bros. Discovery by 54.1% in the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after acquiring an additional 1,981,050 shares during the last quarter. Prudential PLC lifted its stake in Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company’s stock worth $1,429,000 after purchasing an additional 32,102 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $168,000. Finally, Natixis Advisors LLC lifted its position in Warner Bros. Discovery by 3.6% during the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock worth $3,076,000 after buying an additional 10,024 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.25 on Wednesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a 50 day moving average of $10.13 and a two-hundred day moving average of $9.75. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $20.25 billion, a PE ratio of -1.80, a P/E/G ratio of 8.64 and a beta of 1.43.

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

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WBD shares. Barclays reduced their price target on Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Raymond James decreased 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 report on Friday, April 4th. The Goldman Sachs Group increased their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, KeyCorp lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.66.

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.