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

Harvest Fund Management Co. Ltd lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 27.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 144,374 shares of the company’s stock after buying an additional 31,431 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Warner Bros. Discovery were worth $1,525,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WBD. State Street Corp lifted its position in shares of Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. lifted its holdings in Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares during the last quarter. Amundi lifted its holdings in Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company’s stock worth $102,120,000 after acquiring an additional 5,272,717 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in Warner Bros. Discovery in the fourth quarter worth about $23,825,000. Finally, LBP AM SA bought a new position in Warner Bros. Discovery in the fourth quarter worth about $21,032,000. Institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Trading Up 5.1 %

Warner Bros. Discovery stock opened at $10.92 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $26.81 billion, a price-to-earnings ratio of -2.38, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The firm’s 50 day moving average price is $10.35 and its two-hundred day moving average price is $9.53.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly 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 business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WBD. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. KeyCorp lifted their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

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.