Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Holdings 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 107.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 299,440 shares of the company’s stock after purchasing an additional 155,066 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Warner Bros. Discovery were worth $3,187,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WBD. Colonial Trust Advisors increased its position in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after buying an additional 996 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 9.7% in the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company’s stock valued at $160,000 after buying an additional 1,318 shares during the period. Bessemer Group Inc. increased its position in shares of Warner Bros. Discovery by 11.4% during the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company’s stock valued at $139,000 after purchasing an additional 1,338 shares during the period. CX Institutional boosted its position in shares of Warner Bros. Discovery by 5.7% during the 1st quarter. CX Institutional now owns 27,324 shares of the company’s stock valued at $293,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in Warner Bros. Discovery by 9.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company’s stock valued at $202,000 after purchasing an additional 1,561 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $13.70 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The firm has a market cap of $33.63 billion, a price-to-earnings ratio of -3.11 and a beta of 1.54. The company’s fifty day simple moving average is $10.94 and its 200 day simple moving average is $10.15. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $13.87.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same period in the prior year, the firm earned ($0.40) earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WBD. Wells Fargo & Company lifted their price objective on Warner Bros. Discovery from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 2nd. Citigroup cut their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Bank of America upped their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. UBS Group raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Argus raised Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $12.41.

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.