Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 147.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 57,302 shares of the company’s stock after acquiring an additional 34,115 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Warner Bros. Discovery were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WBD. Gabelli Funds LLC lifted its holdings in shares of Warner Bros. Discovery by 3.0% in the fourth quarter. Gabelli Funds LLC now owns 2,672,150 shares of the company’s stock valued at $28,245,000 after purchasing an additional 77,300 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at approximately $232,000. SageView Advisory Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at $110,000. Keystone Financial Group purchased a new position in Warner Bros. Discovery during the fourth quarter worth $168,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Warner Bros. Discovery by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 100,727 shares of the company’s stock worth $1,065,000 after acquiring an additional 4,270 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Raymond James lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Finally, 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 research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $11.66.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.25 on Wednesday. The company’s fifty day simple moving average is $10.13 and its 200-day simple moving average is $9.75. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market cap 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 released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) 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 during the quarter, compared to analysts’ expectations of $10.16 billion. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.