Invesco Ltd. Sells 2,186,995 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Invesco Ltd. trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 42,467,428 shares of the company's stock after selling 2,186,995 shares during the period. Invesco Ltd. owned 1.73% of Warner Bros. Discovery worth $448,881,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in Warner Bros. Discovery by 26.5% during the 3rd quarter. Janus Henderson Group PLC now owns 316,460 shares of the company's stock worth $2,609,000 after acquiring an additional 66,200 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of Warner Bros. Discovery by 15.0% in the third quarter. IHT Wealth Management LLC now owns 32,331 shares of the company's stock worth $266,000 after purchasing an additional 4,226 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Warner Bros. Discovery by 199.9% in the third quarter. Quantinno Capital Management LP now owns 192,270 shares of the company's stock valued at $1,586,000 after purchasing an additional 128,150 shares during the period. National Bank of Canada FI raised its position in Warner Bros. Discovery by 7.9% during the 3rd quarter. National Bank of Canada FI now owns 43,484 shares of the company's stock worth $359,000 after purchasing an additional 3,201 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in Warner Bros. Discovery by 13.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 24,644 shares of the company's stock worth $203,000 after buying an additional 2,905 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

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Warner Bros. Discovery Stock Up 2.9 %

WBD stock traded up $0.23 during mid-day trading on Monday, reaching $8.20. 9,382,372 shares of the company traded hands, compared to its average volume of 32,367,697. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm's 50 day moving average price is $10.21 and its 200 day moving average price is $9.77. The stock has a market cap of $20.13 billion, a price-to-earnings ratio of -1.79, a P/E/G ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analysts' expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WBD shares. KeyCorp lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday. Barclays lowered their price target on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Finally, Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and a consensus price target of $11.66.

About Warner Bros. Discovery

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.