GAMMA Investing LLC Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

GAMMA Investing LLC raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,588 shares of the company’s stock after buying an additional 8,087 shares during the period. GAMMA Investing LLC’s holdings in Warner Bros. Discovery were worth $418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 3.1% in 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 during the last quarter. Hauser Brothers GmbH boosted its stake in shares of Warner Bros. Discovery by 56.1% during the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after acquiring an additional 440,000 shares during the last quarter. Private Management Group Inc. grew its position in shares of Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after acquiring an additional 1,886,868 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth $1,474,000. Finally, Blueshift Asset Management LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth $588,000. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays boosted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. Rosenblatt Securities lifted their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Macquarie raised their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.44.

Warner Bros. Discovery Price Performance

WBD stock opened at $10.57 on Monday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market capitalization of $25.93 billion, a P/E ratio of -2.31 and a beta of 1.50. The company has a fifty day simple moving average of $10.03 and a two-hundred day simple moving average of $8.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.