Gamco Investors INC. ET AL Purchases 358,727 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Gamco Investors INC. ET AL increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,185,148 shares of the company’s stock after purchasing an additional 358,727 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Warner Bros. Discovery were worth $39,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WBD. Pegasus Partners Ltd. bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at about $152,000. Capital Advisors Ltd. LLC boosted its position in Warner Bros. Discovery by 156.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,324 shares of the company’s stock valued at $29,000 after acquiring an additional 1,419 shares in the last quarter. Chiron Capital Management LLC grew its holdings in shares of Warner Bros. Discovery by 25.0% during the 2nd quarter. Chiron Capital Management LLC now owns 39,203 shares of the company’s stock worth $492,000 after acquiring an additional 7,851 shares during the period. Resources Investment Advisors LLC. raised its position in shares of Warner Bros. Discovery by 20.8% in the 1st quarter. Resources Investment Advisors LLC. now owns 36,733 shares of the company’s stock worth $555,000 after acquiring an additional 6,316 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Warner Bros. Discovery by 4.1% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 27,954 shares of the company’s stock worth $422,000 after acquiring an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 58.26% of the company’s stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded up $0.39 during midday trading on Friday, reaching $10.71. 18,723,214 shares of the company traded hands, compared to its average volume of 20,725,615. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $16.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average of $10.66 and a two-hundred day moving average of $11.95. The firm has a market capitalization of $26.10 billion, a price-to-earnings ratio of -5.41 and a beta of 1.61.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Warner Bros. Discovery had a negative net margin of 11.48% and a negative return on equity of 0.47%. The firm had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $9.97 billion. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -1.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WBD shares. Wells Fargo & Company reduced their price target on Warner Bros. Discovery from $20.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, November 9th. Sanford C. Bernstein initiated coverage on shares of Warner Bros. Discovery in a research note on Thursday, October 5th. They issued an “outperform” rating and a $19.00 price target for the company. Guggenheim dropped their price objective on shares of Warner Bros. Discovery from $18.00 to $15.00 in a research note on Wednesday, October 4th. Barclays cut their price objective on shares of Warner Bros. Discovery from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, October 9th. Finally, Benchmark lowered their target price on shares of Warner Bros. Discovery from $26.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.73.

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 third parties and networks 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.