Parkside Investments LLC Decreases Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Parkside Investments LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) by 42.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 514,076 shares of the company’s stock after selling 382,225 shares during the period. Parkside Investments LLC’s holdings in Warner Bros. Discovery were worth $4,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Country Trust Bank purchased a new stake in shares of Warner Bros. Discovery in the third quarter worth approximately $25,000. JCIC Asset Management Inc. purchased a new stake in shares of Warner Bros. Discovery in the third quarter worth approximately $25,000. Financial Management Professionals Inc. purchased a new stake in shares of Warner Bros. Discovery in the third quarter worth approximately $26,000. Guardian Wealth Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter worth approximately $26,000. Finally, CVA Family Office LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter worth approximately $26,000. 55.18% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Up 1.3 %

Warner Bros. Discovery stock opened at $14.34 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.93 and a quick ratio of 0.93. Warner Bros. Discovery, Inc. has a 1-year low of $8.82 and a 1-year high of $27.50. The business has a fifty day moving average price of $14.46 and a 200-day moving average price of $12.55.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WBD shares. Wolfe Research upgraded Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Friday. Morgan Stanley raised their price objective on Warner Bros. Discovery from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. Guggenheim upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 price objective on the stock in a report on Wednesday, January 11th. Wells Fargo & Company upgraded Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $20.00 in a report on Friday. Finally, Rosenblatt Securities raised their price objective on Warner Bros. Discovery from $9.00 to $11.00 and gave the stock a “sell” rating in a report on Friday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

Warner Bros. Discovery Profile

(Get Rating)

Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.