GAMMA Investing LLC Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

GAMMA Investing LLC lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1,145.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 492,958 shares of the company's stock after acquiring 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 SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC grew its position in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after buying an additional 51,920 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Warner Bros. Discovery by 10.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,108,231 shares of the company's stock valued at $53,994,000 after purchasing an additional 498,689 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Warner Bros. Discovery by 1.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 251,067 shares of the company's stock worth $2,654,000 after purchasing an additional 2,559 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Warner Bros. Discovery by 0.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 188,850 shares of the company's stock valued at $1,996,000 after purchasing an additional 1,549 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Warner Bros. Discovery by 5.1% in the fourth quarter. Empowered Funds LLC now owns 61,303 shares of the company's stock valued at $648,000 after buying an additional 2,949 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Rosenblatt Securities reissued a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. KeyCorp lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday. Finally, Citigroup reduced their price objective on 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. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.17.

Warner Bros. Discovery Trading Up 5.0%

NASDAQ:WBD traded up $0.50 during trading hours on Wednesday, reaching $10.51. 52,078,049 shares of the stock were exchanged, compared to its average volume of 34,568,419. The business has a 50-day moving average of $8.86 and a two-hundred day moving average of $9.94. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market capitalization of $25.80 billion, a price-to-earnings ratio of -2.29, a PEG ratio of 8.64 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) 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). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period in the prior year, the firm posted ($0.40) earnings per share. The business's quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

About Warner Bros. Discovery

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.