Global Endowment Management LP Invests $883,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Global Endowment Management LP purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 83,531 shares of the company’s stock, valued at approximately $883,000.

Several other institutional investors also recently bought and sold shares of WBD. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Warner Bros. Discovery by 147.1% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 57,302 shares of the company’s stock worth $606,000 after purchasing an additional 34,115 shares during the period. Gabelli Funds LLC boosted its holdings in Warner Bros. Discovery by 3.0% during the fourth quarter. Gabelli Funds LLC now owns 2,672,150 shares of the company’s stock worth $28,245,000 after buying an additional 77,300 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in Warner Bros. Discovery during the fourth quarter worth $232,000. SageView Advisory Group LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter valued at $110,000. Finally, Keystone Financial Group acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $168,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $7.92 on Thursday. 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 has a market capitalization of $19.44 billion, a PE ratio of -1.73, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. The firm’s 50-day moving average is $10.08 and its two-hundred day moving average is $9.74. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Barclays dropped their price target on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average target price of $11.66.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

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.