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Parkwood LLC Purchases 234,459 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Warner Bros. Discovery logo with Consumer Discretionary background

Parkwood LLC increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 39.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 822,515 shares of the company's stock after acquiring an additional 234,459 shares during the period. Warner Bros. Discovery comprises approximately 0.9% of Parkwood LLC's portfolio, making the stock its 28th biggest holding. Parkwood LLC's holdings in Warner Bros. Discovery were worth $9,360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fortis Group Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $25,000. Pacifica Partners Inc. increased its position in Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company's stock worth $27,000 after buying an additional 1,345 shares during the last quarter. Headinvest LLC bought a new stake in shares of Warner Bros. Discovery in the third quarter valued at $28,000. Systematic Alpha Investments LLC purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at $31,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Warner Bros. Discovery by 56.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company's stock worth $35,000 after acquiring an additional 1,105 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Down 6.7 %

NASDAQ:WBD traded down $0.52 during midday trading on Thursday, reaching $7.29. 48,477,577 shares of the stock traded hands, compared to its average volume of 28,059,754. The stock has a market capitalization of $17.86 billion, a P/E ratio of -5.88 and a beta of 1.53. Warner Bros. Discovery, Inc. has a 12 month low of $7.27 and a 12 month high of $14.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The company has a fifty day moving average of $8.14 and a 200 day moving average of $9.41.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm had revenue of $9.96 billion for the quarter, compared to analysts' expectations of $10.22 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The business's revenue for the quarter was down 6.9% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

WBD has been the topic of several recent research reports. Barclays dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating on the stock in a report on Thursday, February 29th. Benchmark reiterated a "buy" rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. JPMorgan Chase & Co. decreased their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, February 26th. Citigroup cut their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.16.

View Our Latest Research Report on Warner Bros. Discovery

Warner Bros. Discovery Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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