Gateway Investment Advisers LLC Invests $3.85 Million in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Gateway Investment Advisers LLC purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 358,342 shares of the company's stock, valued at approximately $3,845,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Advisors increased its position in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after buying an additional 996 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. increased its holdings in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after acquiring an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at $28,000. Finally, Ethos Financial Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth $29,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. 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. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, Raymond James decreased their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.17.

Warner Bros. Discovery Stock Up 1.8%

WBD stock opened at $9.82 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company's 50-day moving average price is $8.86 and its 200 day moving average price is $9.94. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market cap of $24.11 billion, a P/E ratio of -2.14, a P/E/G ratio of 8.64 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share 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 firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the prior year, the company earned ($0.40) EPS. The business's revenue was down 9.8% on a year-over-year basis. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.

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