Harvest Fund Management Co. Ltd lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 41.0% in the fourth quarter, HoldingsChannel reports. The firm owned 636,402 shares of the company’s stock after purchasing an additional 185,015 shares during the period. Warner Bros. Discovery accounts for 0.7% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 25th biggest position. Harvest Fund Management Co. Ltd’s holdings in Warner Bros. Discovery were worth $18,341,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of WBD. Brighton Jones LLC boosted its position in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after purchasing an additional 51,920 shares during the period. NewEdge Advisors LLC boosted its position in shares of Warner Bros. Discovery by 50.5% in the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock valued at $679,000 after purchasing an additional 21,228 shares during the period. Empowered Funds LLC boosted its position in shares of Warner Bros. Discovery by 6.2% in the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after purchasing an additional 3,779 shares during the period. Focus Partners Wealth boosted its position in shares of Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after purchasing an additional 55,837 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of Warner Bros. Discovery by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock valued at $1,277,000 after purchasing an additional 4,062 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.
Insider Buying and Selling
In related news, Director Fazal F. Merchant sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the sale, the director directly owned 95,539 shares in the company, valued at approximately $2,625,411.72. The trade was a 26.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bruce Campbell sold 41,784 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $27.82, for a total value of $1,162,430.88. Following the completion of the sale, the insider owned 604,666 shares of the company’s stock, valued at approximately $16,821,808.12. This trade represents a 6.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 676,784 shares of company stock worth $18,534,231. 1.90% of the stock is currently owned by insiders.
Warner Bros. Discovery Stock Performance
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the business posted ($0.18) earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Analysts expect that Warner Bros. Discovery, Inc. will post -0.93 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. TD Cowen increased their price target on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Rothschild & Co Redburn set a $31.00 price objective on Warner Bros. Discovery and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, Sanford C. Bernstein raised their price objective on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus price target of $27.04.
View Our Latest Analysis on Warner Bros. Discovery
Warner Bros. Discovery Company Profile
Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.
The company’s core activities include film and television production and distribution through units such as Warner Bros.
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