GAMMA Investing LLC Acquires 8,087 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

GAMMA Investing LLC increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 39,588 shares of the company’s stock after buying an additional 8,087 shares during the quarter. GAMMA Investing LLC’s holdings in Warner Bros. Discovery were worth $418,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth about $41,000. Larson Financial Group LLC grew its stake in Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares in the last quarter. Quarry LP increased its holdings in Warner Bros. Discovery by 2,185.1% during the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after purchasing an additional 6,031 shares during the period. Brooklyn Investment Group bought a new stake in Warner Bros. Discovery during the 3rd quarter valued at $51,000. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth $59,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the subject of several recent research reports. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Macquarie upped their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Bank of America reaffirmed a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.44.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $10.57 on Monday. The firm has a market capitalization of $25.93 billion, a PE ratio of -2.31 and a beta of 1.50. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company’s fifty day moving average price is $10.03 and its 200-day moving average price is $8.53. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

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 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.