GAMMA Investing LLC Boosts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

GAMMA Investing LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1,145.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 492,958 shares of the company’s stock after buying an additional 453,370 shares during the quarter. GAMMA Investing LLC’s holdings in Warner Bros. Discovery were worth $5,289,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Warner Bros. Discovery by 225.6% during the 1st quarter. Versant Capital Management Inc now owns 5,991 shares of the company’s stock worth $64,000 after buying an additional 4,151 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in Warner Bros. Discovery by 9.8% in the first quarter. Central Pacific Bank Trust Division now owns 27,536 shares of the company’s stock worth $295,000 after acquiring an additional 2,456 shares during the last quarter. 111 Capital bought a new position in Warner Bros. Discovery in the fourth quarter worth about $193,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Warner Bros. Discovery by 10.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 200,627 shares of the company’s stock valued at $2,121,000 after purchasing an additional 18,552 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $14,547,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 3.0%

WBD opened at $9.53 on Tuesday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s fifty day moving average is $8.84 and its two-hundred day moving average is $9.94. The firm has a market cap of $23.39 billion, a PE ratio of -2.08, a price-to-earnings-growth ratio of 8.64 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the business earned ($0.40) EPS. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WBD shares. Wells Fargo & Company raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Citigroup reduced their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Finally, Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

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.