Harvest Fund Management Co. Ltd Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Harvest Fund Management Co. Ltd boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 21,429 shares of the company’s stock after buying an additional 1,720 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Warner Bros. Discovery were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WBD. Fortis Group Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $25,000. Pacifica Partners Inc. raised its stake in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after purchasing an additional 1,345 shares during the period. Peoples Bank KS acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $27,000. Milestone Investment Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at $28,000. Finally, Headinvest LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth $28,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 1.2 %

WBD stock opened at $8.28 on Thursday. The company 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 current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a twelve month low of $8.02 and a twelve month high of $14.76. The firm has a 50 day simple moving average of $8.69 and a 200-day simple moving average of $10.01.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, March 4th. Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $16.00 to $12.00 in a research note on Monday, January 29th. Barclays dropped their target price 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. Citigroup reduced their price target 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. Finally, Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Company 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.