Warner Bros. Discovery, Inc. $WBD is Diversified Investment Strategies LLC’s 3rd Largest Position

Diversified Investment Strategies LLC lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 394,185 shares of the company’s stock after selling 21,310 shares during the quarter. Warner Bros. Discovery accounts for 7.4% of Diversified Investment Strategies LLC’s portfolio, making the stock its 3rd largest position. Diversified Investment Strategies LLC’s holdings in Warner Bros. Discovery were worth $11,360,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its stake in shares of Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the period. TOWER TRUST & INVESTMENT Co boosted its stake in shares of Warner Bros. Discovery by 4,730.8% during the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after purchasing an additional 1,230 shares during the period. Concord Wealth Partners boosted its stake in shares of Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares during the period. Physician Wealth Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares during the period. Finally, Elyxium Wealth LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $44,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 374,323 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.05, for a total value of $10,499,760.15. Following the completion of the sale, the chief financial officer directly owned 663,380 shares of the company’s stock, valued at $18,607,809. The trade was a 36.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares of the company’s stock, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,206,827 shares of company stock worth $230,674,025 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on WBD shares. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. UBS Group lifted their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Sanford C. Bernstein lifted their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research note on Tuesday, February 24th. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Finally, Rothschild & Co Redburn set a $31.00 price target on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.36.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $27.03 on Monday. The stock has a market cap of $67.77 billion, a price-to-earnings ratio of -38.61 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. Warner Bros. Discovery, Inc. has a 1 year low of $8.84 and a 1 year high of $30.00. The firm has a 50-day moving average of $27.26 and a two-hundred day moving average of $27.13.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion during 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 period last year, the firm earned ($0.18) earnings per share. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 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.