Warner Bros. Discovery, Inc. $WBD Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.6% during the 4th quarter, HoldingsChannel reports. The fund owned 2,781,125 shares of the company’s stock after buying an additional 147,475 shares during the period. Gabelli Funds LLC’s holdings in Warner Bros. Discovery were worth $80,152,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Concord Wealth Partners raised its holdings in shares of 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 purchasing an additional 440 shares during the period. Physician Wealth Advisors Inc. raised its holdings in shares of Warner Bros. Discovery by 152.1% during the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares during the period. Rakuten Securities Inc. raised its holdings in shares of Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth $33,000. Finally, TOWER TRUST & INVESTMENT Co raised its holdings in shares of Warner Bros. Discovery by 4,730.8% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after purchasing an additional 1,230 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research cut shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. TD Cowen increased their target price on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, February 27th. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Sanford C. Bernstein increased their target price on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings cut shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.36.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $26.98 on Monday. The firm has a 50-day moving average price of $27.33 and a 200 day moving average price of $26.94. The firm has a market capitalization of $67.64 billion, a PE ratio of -38.54 and a beta of 1.57. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 52-week low of $8.82 and a 52-week high of $30.00.

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

Insider Transactions at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 1,580,331 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.00, for a total value of $44,249,268.00. Following the completion of the transaction, the insider owned 690,028 shares in the company, valued at $19,320,784. This represents a 69.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 617,580 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total transaction of $17,446,635.00. Following the completion of the transaction, the chief financial officer owned 691,570 shares of the company’s stock, valued at $19,536,852.50. This represents a 47.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,206,827 shares of company stock worth $230,674,025 over the last ninety days. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Profile

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.