GABELLI & Co INVESTMENT ADVISERS INC. Has $12.04 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 634.4% in the 4th quarter, HoldingsChannel reports. The firm owned 417,850 shares of the company’s stock after acquiring an additional 360,950 shares during the period. Warner Bros. Discovery makes up about 1.8% of GABELLI & Co INVESTMENT ADVISERS INC.’s portfolio, making the stock its 18th largest position. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Warner Bros. Discovery were worth $12,042,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. JFS Wealth Advisors LLC lifted its position in Warner Bros. Discovery by 12.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock worth $99,000 after acquiring an additional 378 shares during the last quarter. Salomon & Ludwin LLC lifted its position in Warner Bros. Discovery by 20.2% during the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock worth $71,000 after acquiring an additional 419 shares during the last quarter. Optas LLC lifted its position in Warner Bros. Discovery by 3.0% during the fourth quarter. Optas LLC now owns 15,120 shares of the company’s stock worth $436,000 after acquiring an additional 435 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in Warner Bros. Discovery by 7.7% during the fourth quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company’s stock worth $176,000 after acquiring an additional 436 shares during the last quarter. Finally, Concord Wealth Partners lifted its position in Warner Bros. Discovery by 49.9% during the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 440 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen raised their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, February 27th. Sanford C. Bernstein raised their price objective on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research report on Tuesday, February 24th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Finally, Benchmark restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $26.36.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $26.98 on Monday. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $30.00. The firm’s 50 day moving average is $27.33 and its 200-day moving average is $26.94. The stock has a market capitalization of $67.64 billion, a PE ratio of -38.54 and a beta of 1.57. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the business posted ($0.18) earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In other news, Director Paul A. Gould sold 600,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director directly owned 244,357 shares of the company’s stock, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Zaslav sold 4,004,149 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the transaction, the chief executive officer directly owned 7,200,627 shares in the company, valued at $203,489,719.02. This represents a 35.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 8,206,827 shares of company stock valued at $230,674,025. 1.80% of the stock is currently owned by company insiders.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.