Warner Bros. Discovery, Inc. $WBD Holdings Lowered by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,767,823 shares of the company’s stock after selling 199,696 shares during the period. Warner Bros. Discovery comprises about 0.8% of Gamco Investors INC. ET AL’s holdings, making the stock its 20th biggest holding. Gamco Investors INC. ET AL’s holdings in Warner Bros. Discovery were worth $79,769,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. lifted 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 valued at $33,000 after purchasing an additional 521 shares during the last quarter. TOWER TRUST & INVESTMENT Co lifted 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 valued at $36,000 after purchasing an additional 1,230 shares during the last quarter. Concord Wealth Partners lifted 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 valued at $26,000 after purchasing an additional 440 shares during the last quarter. Physician Wealth Advisors Inc. lifted 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 valued at $27,000 after purchasing an additional 847 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at $44,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBD has been the subject of several analyst reports. TD Cowen upped their target price on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a report on Friday, February 27th. Weiss Ratings downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Rothschild & Co Redburn set a $31.00 price target on Warner Bros. Discovery and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Argus dropped their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.36.

Insider Buying and Selling

In other Warner Bros. Discovery news, CEO David Zaslav sold 4,004,149 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.26, for a total value of $113,157,250.74. Following the transaction, the chief executive officer directly owned 7,200,627 shares of the company’s stock, valued at $203,489,719.02. This represents a 35.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruce Campbell sold 1,580,331 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was 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 directly owned 690,028 shares in the company, valued at approximately $19,320,784. The trade was a 69.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 8,206,827 shares of company stock worth $230,674,025. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $26.98 on Monday. The firm has a market capitalization of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 1-year low of $8.82 and a 1-year high of $30.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The business’s fifty day moving average price is $27.33 and its 200 day moving average price is $26.94.

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

About Warner Bros. Discovery

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.