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

E Fund Management Co. Ltd. boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 33.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,537 shares of the company’s stock after purchasing an additional 8,668 shares during the period. E Fund Management Co. Ltd.’s holdings in Warner Bros. Discovery were worth $365,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

WBD has been the subject of several recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Citigroup boosted their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Barclays boosted their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Activity

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

Warner Bros. Discovery Price Performance

Shares of WBD opened at $11.07 on Friday. The stock has a market cap of $27.16 billion, a PE ratio of -2.42, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm’s 50-day simple moving average is $10.39 and its two-hundred day simple moving average is $9.38.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results 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 net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.