Diversified Investment Strategies LLC Has $3.84 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Diversified Investment Strategies LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 439,590 shares of the company’s stock after selling 40,548 shares during the quarter. Warner Bros. Discovery comprises approximately 2.6% of Diversified Investment Strategies LLC’s investment portfolio, making the stock its 14th biggest holding. Diversified Investment Strategies LLC’s holdings in Warner Bros. Discovery were worth $3,838,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bridgeworth LLC grew its holdings in Warner Bros. Discovery by 7.4% during the fourth quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock worth $158,000 after purchasing an additional 952 shares during the period. Czech National Bank lifted its position in Warner Bros. Discovery by 0.3% during 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 during the last quarter. Harbour Capital Advisors LLC increased its position in Warner Bros. Discovery by 1.8% during the 4th quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock worth $642,000 after buying an additional 1,025 shares during the period. Blue Trust Inc. boosted its holdings in Warner Bros. Discovery by 20.8% in the 4th quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock valued at $68,000 after purchasing an additional 1,076 shares during the period. 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 worth $35,000 after purchasing an additional 1,105 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on WBD. Citigroup lowered their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. 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 report on Tuesday, April 23rd. Barclays reduced their target price on 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. The Goldman Sachs Group started coverage on Warner Bros. Discovery in a research report on Tuesday. They set a “neutral” rating and a $8.50 price objective for the company. Finally, Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their target price for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.82.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded down $0.04 during trading on Wednesday, hitting $7.20. The company’s 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 52 week low of $6.94 and a 52 week high of $14.76. The company has a fifty day simple moving average of $7.92 and a two-hundred day simple moving average 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 posted its quarterly earnings data 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 net margin of 7.45% and a negative return on equity of 6.58%. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same period last year, the business earned $0.18 EPS. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

About Warner Bros. Discovery

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.