Gabelli Funds LLC Buys 77,300 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Gabelli Funds LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,672,150 shares of the company's stock after buying an additional 77,300 shares during the period. Gabelli Funds LLC owned approximately 0.11% of Warner Bros. Discovery worth $28,245,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Golden State Equity Partners grew its stake in Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock worth $170,000 after buying an additional 986 shares during the last quarter. Colonial Trust Advisors lifted its position in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in Warner Bros. Discovery by 12.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company's stock worth $105,000 after purchasing an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Warner Bros. Discovery by 7.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock valued at $169,000 after buying an additional 1,101 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its stake in shares of Warner Bros. Discovery by 2.8% in the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company's stock worth $454,000 after purchasing an additional 1,174 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research analyst reports. Citigroup upped their price target 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. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Wells Fargo & Company decreased their price target on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Thursday. Benchmark restated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Finally, Raymond James cut their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of "Moderate Buy" and an average target price of $11.76.

Warner Bros. Discovery Stock Up 2.4 %

Shares of Warner Bros. Discovery stock traded up $0.19 during midday trading on Friday, reaching $8.11. 31,292,791 shares of the company's stock traded hands, compared to its average volume of 32,671,448. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company's 50 day simple moving average is $10.04 and its 200 day simple moving average is $9.74. The company has a market cap of $19.91 billion, a price-to-earnings ratio of -1.77, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $10.16 billion. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by 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.