Mackenzie Financial Corp Sells 26,308 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mackenzie Financial Corp lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 257,396 shares of the company’s stock after selling 26,308 shares during the period. Mackenzie Financial Corp’s holdings in Warner Bros. Discovery were worth $2,929,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in shares of Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Warner Bros. Discovery by 12.1% in the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after purchasing an additional 2,356,665 shares during the period. Northern Trust Corp boosted its stake in Warner Bros. Discovery by 2.6% during the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock worth $226,692,000 after buying an additional 524,965 shares in the last quarter. Boston Partners increased its holdings in Warner Bros. Discovery by 43.0% in the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company’s stock valued at $153,713,000 after buying an additional 4,275,994 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Warner Bros. Discovery by 9.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,097,509 shares of the company’s stock valued at $142,239,000 after buying an additional 1,180,825 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 0.8 %

Shares of NASDAQ WBD opened at $8.47 on Tuesday. Warner Bros. Discovery, Inc. has a 1-year low of $8.02 and a 1-year high of $14.76. The company has a 50-day moving average of $8.77 and a two-hundred day moving average of $10.04. The company has a market cap of $20.66 billion, a PE ratio of -6.62 and a beta of 1.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter last year, the firm earned $0.42 EPS. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Redburn Atlantic lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Thursday, January 11th. JPMorgan Chase & Co. dropped their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Benchmark reaffirmed a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Finally, Macquarie dropped their price objective 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. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.24.

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.