Harvest Fund Management Co. Ltd Has $3.19 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Harvest Fund Management Co. Ltd significantly increased its stake in Warner Bros. Discovery by 107.4% during the first quarter, holding 299,440 shares valued at approximately $3.19 million at the end of the period.
• In its latest earnings report, Warner Bros. Discovery posted a loss of ($0.18) per share, missing analyst estimates and indicating a 9.8% drop in revenue compared to the previous year.
• Analysts have mixed sentiments about the stock, with twelve holding a "hold" rating, eleven issuing a "buy" rating, and one a "strong buy," leading to an average target price of $12.41.

Harvest Fund Management Co. Ltd raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 107.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,440 shares of the company's stock after purchasing an additional 155,066 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Warner Bros. Discovery were worth $3,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Warner Bros. Discovery in the first quarter valued at approximately $1,814,000. Federated Hermes Inc. increased its stake in shares of Warner Bros. Discovery by 25.5% in the first quarter. Federated Hermes Inc. now owns 40,314 shares of the company's stock valued at $433,000 after purchasing an additional 8,196 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $36,000. Norden Group LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $133,000. Finally, Mackenzie Financial Corp increased its stake in shares of Warner Bros. Discovery by 10.1% during the first quarter. Mackenzie Financial Corp now owns 268,933 shares of the company's stock valued at $2,886,000 after acquiring an additional 24,566 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Trading Up 1.1%

Warner Bros. Discovery stock traded up $0.14 during midday trading on Wednesday, reaching $13.26. The stock had a trading volume of 52,301,538 shares, compared to its average volume of 73,935,952. The firm's fifty day simple moving average is $11.02 and its two-hundred day simple moving average is $10.17. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of -3.01 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The firm 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 business posted ($0.40) EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

WBD has been the topic of a number of research analyst reports. Benchmark reiterated a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. KeyCorp raised their price objective on shares of Warner Bros. Discovery from $13.00 to $18.00 and gave the company an "overweight" rating in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $12.66.

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.