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

Invesco Ltd. lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 SEC filing.

Several other hedge funds have also bought and sold shares of WBD. Janus Henderson Group PLC increased its position in Warner Bros. Discovery by 26.5% during the third quarter. Janus Henderson Group PLC now owns 316,460 shares of the company’s stock valued at $2,609,000 after acquiring an additional 66,200 shares during the last quarter. IHT Wealth Management LLC lifted its position in 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 buying an additional 4,226 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Warner Bros. Discovery by 199.9% during the third quarter. Quantinno Capital Management LP now owns 192,270 shares of the company’s stock valued at $1,586,000 after buying an additional 128,150 shares during the period. National Bank of Canada FI grew its holdings in shares of Warner Bros. Discovery by 7.9% in the third 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 increased its position in shares of Warner Bros. Discovery by 13.4% during the third quarter. Orion Portfolio Solutions LLC now owns 24,644 shares of the company’s stock worth $203,000 after acquiring an additional 2,905 shares during the period. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Raymond James reduced their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Citigroup lifted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Barclays decreased their price target on Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and eleven have issued 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 price target of $11.71.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Down 4.9 %

NASDAQ WBD opened at $7.69 on Wednesday. The stock has a market cap of $18.88 billion, a PE ratio of -1.68, a PEG ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a 50-day simple moving average of $10.34 and a 200 day simple moving average of $9.75. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.