266,233 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Acquired by Citizens Business Bank

Citizens Business Bank purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 266,233 shares of the company's stock, valued at approximately $3,030,000.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners grew its position in shares of Warner Bros. Discovery by 43.0% in the third quarter. Boston Partners now owns 14,225,819 shares of the company's stock valued at $153,713,000 after purchasing an additional 4,275,994 shares during the last quarter. Invesco Ltd. grew its holdings in Warner Bros. Discovery by 16.6% in the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company's stock valued at $306,085,000 after buying an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Warner Bros. Discovery by 12.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company's stock worth $237,007,000 after buying an additional 2,356,665 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 1,232.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company's stock worth $17,898,000 after buying an additional 1,524,370 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Warner Bros. Discovery by 55.5% during the third quarter. UBS Group AG now owns 3,964,873 shares of the company's stock worth $43,059,000 after buying an additional 1,415,744 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on WBD shares. Citigroup lowered their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, February 29th. Wolfe Research downgraded shares of Warner Bros. Discovery from a "peer perform" rating to an "underperform" rating and set a $7.00 price target for the company. in a research report on Tuesday, April 23rd. Barrington Research reduced their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Monday, February 26th. JPMorgan Chase & Co. reduced their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, February 26th. Finally, Macquarie dropped their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.83.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded down $0.79 during midday trading on Tuesday, hitting $7.36. 83,347,315 shares of the company traded hands, compared to its average volume of 26,970,941. The firm's fifty day moving average price is $8.59 and its 200-day moving average price is $9.95. The stock has a market cap of $17.96 billion, a price-to-earnings ratio of -5.78 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12 month low of $7.35 and a 12 month high of $14.76. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business's quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 EPS. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.33 earnings per share for the current 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.

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