GABELLI & Co INVESTMENT ADVISERS INC. Acquires 34,115 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 147.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,302 shares of the company's stock after buying an additional 34,115 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in Warner Bros. Discovery were worth $606,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Colonial Trust Advisors lifted its holdings in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after acquiring an additional 996 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter worth $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after purchasing an additional 1,940 shares during the last quarter. Graney & King LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at about $28,000. Finally, Ethos Financial Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at about $29,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Up 2.4 %

NASDAQ:WBD traded up $0.19 during trading hours on Friday, reaching $8.11. 31,292,791 shares of the stock were exchanged, compared to its average volume of 32,671,448. 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 twelve month low of $6.64 and a twelve month high of $12.70. The stock has a market cap of $19.91 billion, a PE ratio of -1.77, a PEG ratio of 8.64 and a beta of 1.43. The firm has a 50 day moving average of $10.04 and a 200 day moving average of $9.74.

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

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Benchmark restated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, Citigroup upped their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $11.76.

Warner Bros. Discovery 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.