Parkside Investments LLC Purchases 195,026 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Parkside Investments LLC boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 297.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 260,494 shares of the company’s stock after buying an additional 195,026 shares during the quarter. Parkside Investments LLC’s holdings in Warner Bros. Discovery were worth $2,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in WBD. Sei Investments Co. boosted its stake in shares of Warner Bros. Discovery by 11.6% during the 2nd quarter. Sei Investments Co. now owns 582,071 shares of the company’s stock worth $4,330,000 after acquiring an additional 60,458 shares during the period. Public Sector Pension Investment Board boosted its position in Warner Bros. Discovery by 94.9% during the second quarter. Public Sector Pension Investment Board now owns 74,125 shares of the company’s stock worth $551,000 after purchasing an additional 36,086 shares during the period. AXA S.A. increased its holdings in shares of Warner Bros. Discovery by 6.6% in the second quarter. AXA S.A. now owns 200,206 shares of the company’s stock valued at $1,490,000 after purchasing an additional 12,312 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Warner Bros. Discovery by 133.4% in the second quarter. AQR Capital Management LLC now owns 1,517,168 shares of the company’s stock valued at $11,265,000 after purchasing an additional 867,047 shares during the last quarter. Finally, Daymark Wealth Partners LLC raised its position in shares of Warner Bros. Discovery by 64.3% in the second quarter. Daymark Wealth Partners LLC now owns 27,415 shares of the company’s stock valued at $204,000 after purchasing an additional 10,728 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Raymond James increased their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barclays lifted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Finally, Guggenheim lifted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Insider Activity

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $10.25 on Monday. The business has a fifty day moving average price of $10.42 and a two-hundred day moving average price of $8.83. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week 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.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the company earned ($0.17) EPS. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current 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.