Mackenzie Financial Corp Sells 119,343 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mackenzie Financial Corp decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 244,367 shares of the company's stock after selling 119,343 shares during the quarter. Mackenzie Financial Corp's holdings in Warner Bros. Discovery were worth $2,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Equity Partners raised its holdings in Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock worth $170,000 after purchasing an additional 986 shares during the last quarter. Colonial Trust Advisors raised its stake in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after buying an additional 996 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in Warner Bros. Discovery by 12.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company's stock worth $105,000 after buying an additional 1,066 shares during the last quarter. Personal CFO Solutions LLC lifted its holdings in Warner Bros. Discovery by 2.8% in the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company's stock valued at $454,000 after buying an additional 1,174 shares during the period. Finally, Avestar Capital LLC boosted its position in Warner Bros. Discovery by 9.4% during the fourth quarter. Avestar Capital LLC now owns 14,337 shares of the company's stock valued at $152,000 after acquiring an additional 1,228 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WBD shares. Benchmark reissued a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Argus raised Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. KeyCorp cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company increased their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.17.

Warner Bros. Discovery Stock Down 0.6%

Shares of WBD stock traded down $0.06 during trading hours on Tuesday, reaching $9.94. The company had a trading volume of 31,612,230 shares, compared to its average volume of 33,520,231. The company has a market cap of $24.40 billion, a price-to-earnings ratio of -2.17, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The business has a fifty day simple moving average of $8.90 and a 200-day simple moving average of $9.94.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The company had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) earnings per share. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.