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

Mackenzie Financial Corp lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,396 shares of the company’s stock after selling 26,308 shares during the quarter. Mackenzie Financial Corp’s holdings in Warner Bros. Discovery were worth $2,929,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Invesco Ltd. increased its position in Warner Bros. Discovery by 16.6% during the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after acquiring an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Warner Bros. Discovery by 12.1% during 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 raised its position in shares of Warner Bros. Discovery by 2.6% in the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock valued at $226,692,000 after buying an additional 524,965 shares in the last quarter. Boston Partners boosted its stake 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 buying an additional 4,275,994 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Warner Bros. Discovery by 9.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,097,509 shares of the company’s stock worth $142,239,000 after buying an additional 1,180,825 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 0.8 %

NASDAQ WBD opened at $8.47 on Tuesday. The company has a market cap of $20.66 billion, a price-to-earnings ratio of -6.62 and a beta of 1.51. Warner Bros. Discovery, Inc. has a twelve month low of $8.02 and a twelve month high of $14.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average is $8.77 and its 200 day moving average is $10.04.

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

Analyst Upgrades and Downgrades

WBD has been the subject of several analyst reports. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $16.00 to $12.00 in a report on Monday, January 29th. JPMorgan Chase & Co. dropped their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Barclays reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Macquarie decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Finally, Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.24.

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.