Parkside Investments LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 0.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 506,936 shares of the company’s stock after purchasing an additional 1,300 shares during the period. Parkside Investments LLC’s holdings in Warner Bros. Discovery were worth $6,357,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in WBD. Thompson Siegel & Walmsley LLC bought a new position in shares of Warner Bros. Discovery in the third quarter valued at $32,838,000. Retirement Systems of Alabama bought a new position in Warner Bros. Discovery during the third quarter worth $8,438,000. First Trust Advisors LP bought a new position in Warner Bros. Discovery during the third quarter worth $4,168,000. Price T Rowe Associates Inc. MD bought a new position in Warner Bros. Discovery during the third quarter worth $49,058,000. Finally, Two Sigma Advisers LP bought a new position in Warner Bros. Discovery during the third quarter worth $601,000. 58.26% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on WBD. Benchmark reaffirmed a “buy” rating and set a $26.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, August 7th. Wolfe Research downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a research note on Friday, July 7th. Rosenblatt Securities restated a “sell” rating and issued a $10.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, September 5th. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price target on shares of Warner Bros. Discovery in a research note on Friday, August 4th. Finally, Evercore ISI cut their price objective on shares of Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $20.66.
Warner Bros. Discovery Stock Up 2.1 %
NASDAQ WBD traded up $0.25 during trading hours on Friday, reaching $11.98. The company’s stock had a trading volume of 9,876,048 shares, compared to its average volume of 20,427,186. The firm has a fifty day simple moving average of $12.72 and a 200-day simple moving average of $13.19. Warner Bros. Discovery, Inc. has a 52 week low of $8.82 and a 52 week high of $16.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.12). The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.44 billion. Warner Bros. Discovery had a negative net margin of 16.04% and a positive return on equity of 1.27%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) EPS. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -1.01 earnings per share for the current year.
Insider Activity at Warner Bros. Discovery
In other Warner Bros. Discovery news, insider Gerhard Zeiler acquired 38,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $14.09 per share, for a total transaction of $535,420.00. Following the acquisition, the insider now directly owns 329,032 shares in the company, valued at $4,636,060.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by company insiders.
About Warner Bros. Discovery
Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.
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