Diversified Investment Strategies LLC Sells 40,548 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Diversified Investment Strategies LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 439,590 shares of the company’s stock after selling 40,548 shares during the period. Warner Bros. Discovery accounts for about 2.6% of Diversified Investment Strategies LLC’s portfolio, making the stock its 14th largest position. Diversified Investment Strategies LLC’s holdings in Warner Bros. Discovery were worth $3,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgeworth LLC grew its stake in Warner Bros. Discovery by 7.4% during the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock worth $158,000 after buying an additional 952 shares during the last quarter. Czech National Bank boosted its holdings in Warner Bros. Discovery by 0.3% in the fourth quarter. Czech National Bank now owns 388,660 shares of the company’s stock worth $4,423,000 after acquiring an additional 996 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Warner Bros. Discovery by 1.8% during the fourth quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock worth $642,000 after acquiring an additional 1,025 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Warner Bros. Discovery by 20.8% during the fourth quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock valued at $68,000 after acquiring an additional 1,076 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on WBD shares. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research note on Tuesday, April 23rd. Barrington Research reissued an “outperform” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Barclays lowered their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group assumed coverage on Warner Bros. Discovery in a report on Tuesday. They issued a “neutral” rating and a $8.50 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.82.

Warner Bros. Discovery Stock Down 0.6 %

NASDAQ WBD traded down $0.04 on Wednesday, reaching $7.20. The stock had a trading volume of 10,389,285 shares, compared to its average volume of 27,932,117. Warner Bros. Discovery, Inc. has a 12-month low of $6.94 and a 12-month high of $14.76. The stock has a fifty day moving average price of $7.92 and a two-hundred day moving average price of $9.16. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87.

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

Warner Bros. Discovery 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.