Parkside Investments LLC Has $2.75 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Parkside Investments LLC lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 297.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 260,494 shares of the company’s stock after purchasing an additional 195,026 shares during the period. Parkside Investments LLC’s holdings in Warner Bros. Discovery were worth $2,753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its stake in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. raised its position in Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Warner Bros. Discovery by 2.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after buying an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Warner Bros. Discovery by 1.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after buying an additional 329,620 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after buying an additional 687,612 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

WBD opened at $10.25 on Monday. The business’s 50-day moving average price is $10.42 and its two-hundred day moving average price is $8.83. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the firm earned ($0.17) EPS. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on WBD. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price target for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Barclays boosted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Rosenblatt Securities raised their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average target price of $11.76.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

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.