Warner Bros. Discovery, Inc. $WBD Shares Sold by Diversified Investment Strategies LLC

Diversified Investment Strategies LLC reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 415,495 shares of the company’s stock after selling 2,500 shares during the quarter. Warner Bros. Discovery makes up about 3.2% of Diversified Investment Strategies LLC’s holdings, making the stock its 12th largest holding. Diversified Investment Strategies LLC’s holdings in Warner Bros. Discovery were worth $4,762,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $27,000. North Capital Inc. purchased a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC increased its stake in Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock worth $31,000 after buying an additional 2,352 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the acquisition, the director owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. The trade was a 40.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 970,115 shares of company stock worth $17,818,490. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays set a $20.00 price objective on Warner Bros. Discovery in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Bank of America boosted their price objective on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Morgan Stanley boosted their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Finally, Seaport Global Securities boosted their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $16.61.

Warner Bros. Discovery Trading Up 1.1%

Shares of Warner Bros. Discovery stock opened at $17.98 on Wednesday. The stock has a market cap of $44.51 billion, a P/E ratio of 59.94, a P/E/G ratio of 2.17 and a beta of 1.73. The stock’s 50 day simple moving average is $15.14 and its 200-day simple moving average is $11.89. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $20.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the prior year, the firm posted ($4.07) earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Warner Bros. Discovery Profile

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.