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

Parkside Investments LLC decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 268,504 shares of the company’s stock after selling 44,700 shares during the quarter. Parkside Investments LLC’s holdings in Warner Bros. Discovery were worth $7,738,000 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 stock. JFS Wealth Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 12.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock valued at $99,000 after purchasing an additional 378 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Warner Bros. Discovery by 20.2% in the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after purchasing an additional 419 shares during the period. CYBER HORNET ETFs LLC lifted its stake in shares of Warner Bros. Discovery by 7.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock valued at $184,000 after purchasing an additional 425 shares during the period. Optas LLC lifted its stake in shares of Warner Bros. Discovery by 3.0% in the fourth quarter. Optas LLC now owns 15,120 shares of the company’s stock valued at $436,000 after purchasing an additional 435 shares during the period. Finally, Armstrong Advisory Group Inc. lifted its stake in shares of Warner Bros. Discovery by 7.7% in the fourth quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company’s stock valued at $176,000 after purchasing an additional 436 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on WBD. TD Cowen raised their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Huber Research cut shares of Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, February 27th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Finally, Rothschild & Co Redburn set a $31.00 target price on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and an average price target of $26.36.

Insider Buying and Selling at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 374,323 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.05, for a total transaction of $10,499,760.15. Following the completion of the sale, the chief financial officer directly owned 663,380 shares in the company, valued at $18,607,809. The trade was a 36.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.48, for a total transaction of $961,800.00. Following the sale, the director owned 95,539 shares of the company’s stock, valued at approximately $2,625,411.72. This trade represents a 26.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 8,206,827 shares of company stock valued at $230,674,025. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $27.03 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The stock has a market cap of $67.77 billion, a P/E ratio of -38.61 and a beta of 1.57. The company has a 50-day moving average of $27.25 and a two-hundred day moving average of $27.16. Warner Bros. Discovery, Inc. has a 12-month low of $8.84 and a 12-month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) EPS. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current fiscal year.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.