Gabelli Funds LLC Has $28.25 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Gabelli Funds LLC boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 2,672,150 shares of the company’s stock after purchasing an additional 77,300 shares during the period. Gabelli Funds LLC’s holdings in Warner Bros. Discovery were worth $28,245,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WBD. Norges Bank acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $362,210,000. Contrarius Group Holdings Ltd acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $168,930,000. FMR LLC increased its position in shares of Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock worth $150,925,000 after acquiring an additional 11,810,191 shares in the last quarter. Amundi raised its holdings in shares of Warner Bros. Discovery by 108.1% during the fourth quarter. Amundi now owns 10,151,114 shares of the company’s stock worth $102,120,000 after acquiring an additional 5,272,717 shares during the period. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $23,825,000. Institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction 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 company insiders.

Warner Bros. Discovery Stock Performance

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

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Citigroup lifted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group boosted their target price 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. KeyCorp lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.