Neo Ivy Capital Management Decreases Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Neo Ivy Capital Management reduced its stake in Warner Bros. Discovery by 64.0%, now holding 125,972 shares valued at around $1.35 million.
• Warner Bros. Discovery reported a negative EPS of ($0.18) for the last quarter, missing expectations by ($0.06), with revenue of $8.98 billion, down 9.8% from the same quarter last year.
• Analyst ratings for Warner Bros. Discovery show a consensus of "Moderate Buy", with a target price averaging $12.41, reflecting varied perspectives from multiple research firms.

Neo Ivy Capital Management lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 64.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,972 shares of the company's stock after selling 224,143 shares during the quarter. Neo Ivy Capital Management's holdings in Warner Bros. Discovery were worth $1,352,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of WBD. Colonial Trust Advisors lifted its position in shares of Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after buying an additional 996 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Warner Bros. Discovery in the 1st quarter valued at about $27,000. North Capital Inc. bought a new stake in Warner Bros. Discovery in the 1st quarter valued at about $28,000. Graney & King LLC purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at about $28,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Warner Bros. Discovery during the first quarter worth about $29,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $13.50 on Friday. The company's fifty day moving average price is $10.76 and its 200-day moving average price is $10.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $33.14 billion, a price-to-earnings ratio of -3.07 and a beta of 1.54. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $13.68.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the prior year, the company earned ($0.40) EPS. The firm's revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Morgan Stanley dropped their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Raymond James Financial cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Finally, Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.41.

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.

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