GAMMA Investing LLC Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

GAMMA Investing LLC purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,733 shares of the company’s stock, valued at approximately $145,000.

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after purchasing an additional 4,016,888 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Warner Bros. Discovery by 12.1% during the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock valued at $237,007,000 after acquiring an additional 2,356,665 shares during the last quarter. Northern Trust Corp raised its stake in shares of Warner Bros. Discovery by 2.6% during the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock valued at $226,692,000 after acquiring an additional 524,965 shares during the last quarter. Boston Partners raised its stake in shares of Warner Bros. Discovery by 43.0% during the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock valued at $153,713,000 after acquiring an additional 4,275,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Warner Bros. Discovery by 9.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,097,509 shares of the company’s stock valued at $142,239,000 after acquiring an additional 1,180,825 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Down 2.2 %

NASDAQ:WBD opened at $8.11 on Friday. The company’s 50 day moving average price is $8.62 and its 200-day moving average price is $9.97. Warner Bros. Discovery, Inc. has a 52 week low of $8.02 and a 52 week high of $14.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of -6.34 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Thursday, January 11th. Barrington Research lowered their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Barclays lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, February 29th. JPMorgan Chase & Co. decreased their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Finally, Wells Fargo & Company downgraded shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $16.00 to $12.00 in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.83.

Warner Bros. Discovery 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.