Diversified Investment Strategies LLC Reduces Holdings in Warner Bros. Discovery, Inc. $WBD

Diversified Investment Strategies LLC reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 93.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,495 shares of the company’s stock after selling 367,690 shares during the period. Diversified Investment Strategies LLC’s holdings in Warner Bros. Discovery were worth $728,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of WBD. Venturi Wealth Management LLC raised its holdings in Warner Bros. Discovery by 4.5% in the 1st quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock worth $232,000 after purchasing an additional 367 shares during the period. Krilogy Financial LLC grew its holdings in Warner Bros. Discovery by 2.6% during the first quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock valued at $406,000 after purchasing an additional 369 shares during the period. JFS Wealth Advisors LLC increased its position in Warner Bros. Discovery by 12.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock worth $99,000 after buying an additional 378 shares in the last quarter. Optas LLC raised its stake in shares of Warner Bros. Discovery by 2.7% in the first quarter. Optas LLC now owns 15,529 shares of the company’s stock worth $426,000 after buying an additional 409 shares during the period. Finally, William B. Walkup & Associates Inc. raised its stake in shares of Warner Bros. Discovery by 5.6% in the first quarter. William B. Walkup & Associates Inc. now owns 7,837 shares of the company’s stock worth $215,000 after buying an additional 414 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Finally, UBS Group lifted their target price on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus price target of $27.04.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $26.59 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $10.76 and a 12 month high of $30.00. 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 company has a market cap of $66.66 billion, a P/E ratio of -37.99 and a beta of 1.54. The firm has a fifty day moving average price of $26.84 and a 200 day moving average price of $27.55.

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

Warner Bros. Discovery Company 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.