Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,429 shares of the company’s stock after acquiring an additional 1,720 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Warner Bros. Discovery were worth $243,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in Warner Bros. Discovery during the fourth quarter worth about $145,000. Lorne Steinberg Wealth Management Inc. raised its position in shares of Warner Bros. Discovery by 2.5% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 222,527 shares of the company’s stock valued at $2,532,000 after buying an additional 5,493 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Warner Bros. Discovery by 34.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 204,356 shares of the company’s stock valued at $2,326,000 after acquiring an additional 52,632 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Warner Bros. Discovery by 0.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 200,720 shares of the company’s stock valued at $2,284,000 after acquiring an additional 1,769 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Warner Bros. Discovery in the fourth quarter worth approximately $194,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WBD. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their price target for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. Citigroup decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a research note on Tuesday. Barrington Research reduced their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Finally, Barclays lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Price Performance

WBD stock opened at $8.28 on Thursday. Warner Bros. Discovery, Inc. has a 1 year low of $8.02 and a 1 year high of $14.76. The firm has a market capitalization of $20.20 billion, a P/E ratio of -6.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The business’s 50-day moving average is $8.69 and its two-hundred day moving average is $10.01.

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