Diversified Investment Strategies LLC Has $728,000 Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Diversified Investment Strategies LLC cut its Warner Bros. Discovery stake by 93.3% in the first quarter, selling 367,690 shares and leaving it with 26,495 shares valued at about $728,000.
• Other institutional investors also adjusted positions in WBD, and overall 59.95% of the stock is now held by institutions, showing continued hedge fund and asset manager activity around the name.
• Analyst sentiment remains mixed but broadly cautious: WBD has an average "Hold" rating with a consensus target price of $27.04, while the stock recently traded around $26.59 after reporting a quarterly EPS miss.

Diversified Investment Strategies LLC trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 93.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in WBD. Brighton Jones LLC lifted its position in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after buying an additional 51,920 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 50.5% in the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company's stock valued at $679,000 after purchasing an additional 21,228 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Warner Bros. Discovery by 6.2% during the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company's stock valued at $698,000 after purchasing an additional 3,779 shares during the last quarter. Focus Partners Wealth increased its position in Warner Bros. Discovery by 91.6% during the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company's stock worth $1,254,000 after purchasing an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in Warner Bros. Discovery by 3.8% in the second quarter. Baird Financial Group Inc. now owns 111,450 shares of the company's stock valued at $1,277,000 after buying an additional 4,062 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WBD has been the topic of several recent research reports. Seaport Research Partners raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and set a $31.00 price objective on the stock in a report on Monday, June 29th. Huber Research raised Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research note on Monday, June 1st. UBS Group lifted their target price on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Zacks Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Finally, Guggenheim reissued a "neutral" rating on shares of Warner Bros. Discovery 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $27.04.

Warner Bros. Discovery Stock Down 0.2%

WBD opened at $26.59 on Friday. The stock has a market capitalization of $66.66 billion, a price-to-earnings ratio of -37.99 and a beta of 1.54. The firm has a 50 day moving average price of $26.84 and a 200-day moving average price of $27.55. Warner Bros. Discovery, Inc. has a twelve month low of $10.76 and a twelve month high of $30.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion for the quarter, compared to analysts' expectations of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. Warner Bros. Discovery's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

About Warner Bros. Discovery

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.

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