Community Bank of Raymore Trims Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Community Bank of Raymore cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 40.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,888 shares of the company’s stock after selling 18,115 shares during the quarter. Community Bank of Raymore’s holdings in Warner Bros. Discovery were worth $235,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WBD. Norges Bank bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth $198,916,000. The Manufacturers Life Insurance Company grew its position in shares of Warner Bros. Discovery by 17.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 1,232.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after purchasing an additional 1,524,370 shares during the last quarter. ING Groep NV boosted its stake in Warner Bros. Discovery by 3,010.0% during the fourth quarter. ING Groep NV now owns 1,538,503 shares of the company’s stock valued at $17,508,000 after buying an additional 1,489,034 shares during the last quarter. Finally, Boston Partners increased its stake in Warner Bros. Discovery by 9.9% in the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after acquiring an additional 1,414,952 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of a number of recent research reports. Citigroup cut their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 29th. The Goldman Sachs Group started coverage on Warner Bros. Discovery in a research report on Tuesday. They issued a “neutral” rating and a $8.50 price target for the company. Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a research note on Tuesday, April 23rd. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their target price for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. Finally, Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Stock Performance

WBD stock traded down $0.06 during trading on Wednesday, hitting $7.18. 2,007,537 shares of the company traded hands, compared to its average volume of 27,863,414. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. Warner Bros. Discovery, Inc. has a 1 year low of $6.94 and a 1 year high of $14.76. The stock’s 50-day simple moving average is $7.92 and its 200 day simple moving average is $9.16. The company has a market cap of $17.59 billion, a PE ratio of -5.84 and a beta of 1.53.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter last year, the company posted $0.18 EPS. The company’s revenue was down 6.9% on a year-over-year basis. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.