Mackenzie Financial Corp Acquires 24,566 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

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Mackenzie Financial Corp lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,933 shares of the company's stock after purchasing an additional 24,566 shares during the quarter. Mackenzie Financial Corp's holdings in Warner Bros. Discovery were worth $2,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBD. Slate Path Capital LP boosted its stake in shares of Warner Bros. Discovery by 36.6% in the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after buying an additional 6,381,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Warner Bros. Discovery by 7.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock valued at $249,545,000 after buying an additional 1,725,775 shares during the last quarter. Northern Trust Corp raised its position in Warner Bros. Discovery by 13.5% in the fourth quarter. Northern Trust Corp now owns 22,996,874 shares of the company's stock worth $243,077,000 after acquiring an additional 2,735,196 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 0.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 21,536,172 shares of the company's stock worth $227,637,000 after acquiring an additional 139,453 shares during the last quarter. Finally, FMR LLC grew its position in shares of Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after acquiring an additional 11,810,191 shares during the period. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WBD has been the topic of several analyst reports. Huber Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. Barclays boosted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Morgan Stanley decreased their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Finally, Citigroup decreased their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.66.

Warner Bros. Discovery Trading Down 0.5%

Shares of NASDAQ:WBD traded down $0.07 on Monday, hitting $12.80. 65,203,898 shares of the company's stock were exchanged, compared to its average volume of 46,872,469. The business's 50 day simple moving average is $11.27 and its two-hundred day simple moving average is $10.25. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $31.42 billion, a price-to-earnings ratio of -2.91 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 28.16% and a negative return on equity of 30.56%. Warner Bros. Discovery's quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.