E Fund Management Co. Ltd. Acquires 8,668 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

E Fund Management Co. Ltd. grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 33.5% during the 4th quarter, Holdings Channel reports. The fund owned 34,537 shares of the company’s stock after buying an additional 8,668 shares during the period. E Fund Management Co. Ltd.’s holdings in Warner Bros. Discovery were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its position in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the period. Ethos Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $29,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $33,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $37,000. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Citigroup increased their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target of $11.91.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $11.07 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock has a market capitalization of $27.16 billion, a P/E ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.48. The firm has a fifty day simple moving average of $10.39 and a two-hundred day simple moving average of $9.38. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

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.