Warner Bros. Discovery, Inc. $WBD Shares Bought by Parkside Investments LLC

Parkside Investments LLC grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,654 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Parkside Investments LLC’s holdings in Warner Bros. Discovery were worth $3,973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. V Square Quantitative Management LLC lifted its holdings in shares of Warner Bros. Discovery by 217.3% during the 2nd quarter. V Square Quantitative Management LLC now owns 83,675 shares of the company’s stock valued at $959,000 after purchasing an additional 57,307 shares during the last quarter. Guardian Investment Management lifted its holdings in shares of Warner Bros. Discovery by 9.4% during the 2nd quarter. Guardian Investment Management now owns 91,703 shares of the company’s stock valued at $1,051,000 after purchasing an additional 7,856 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Warner Bros. Discovery by 8.8% during the second quarter. Avior Wealth Management LLC now owns 14,545 shares of the company’s stock worth $167,000 after buying an additional 1,176 shares during the period. Sterneck Capital Management LLC purchased a new stake in shares of Warner Bros. Discovery during the second quarter valued at $126,000. Finally, ORG Wealth Partners LLC grew its holdings in shares of Warner Bros. Discovery by 831.3% during the second quarter. ORG Wealth Partners LLC now owns 7,320 shares of the company’s stock valued at $80,000 after buying an additional 6,534 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WBD. Morgan Stanley increased their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Cowen lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating in a report on Tuesday, September 16th. Huber Research raised Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a report on Monday, June 9th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.07.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. This represents a 37.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. The trade was a 31.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 970,115 shares of company stock worth $17,818,490. Insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD opened at $18.86 on Tuesday. Warner Bros. Discovery, Inc. has a twelve month low of $7.25 and a twelve month high of $20.24. The firm has a market capitalization of $46.69 billion, a PE ratio of 62.87, a PEG ratio of 2.54 and a beta of 1.59. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $13.97 and its 200 day moving average price is $11.30.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. Warner Bros. Discovery’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($4.07) EPS. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.