E Fund Management Co. Ltd. Sells 2,472 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

E Fund Management Co. Ltd. cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,983 shares of the company’s stock after selling 2,472 shares during the period. E Fund Management Co. Ltd.’s holdings in Warner Bros. Discovery were worth $273,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Boston Partners lifted its stake in Warner Bros. Discovery by 43.0% in the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock valued at $153,713,000 after buying an additional 4,275,994 shares during the period. Invesco Ltd. lifted its stake in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after buying an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Warner Bros. Discovery by 12.1% during the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after purchasing an additional 2,356,665 shares during the period. Schonfeld Strategic Advisors LLC raised its position in shares of Warner Bros. Discovery by 1,232.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after purchasing an additional 1,524,370 shares during the period. Finally, UBS Group AG raised its position in shares of Warner Bros. Discovery by 55.5% during the third quarter. UBS Group AG now owns 3,964,873 shares of the company’s stock worth $43,059,000 after purchasing an additional 1,415,744 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

WBD stock traded up $0.24 during mid-day trading on Thursday, hitting $8.04. The company had a trading volume of 51,998,383 shares, compared to its average volume of 27,691,525. The firm has a market cap of $19.62 billion, a PE ratio of -6.09 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 12 month low of $7.34 and a 12 month high of $14.76. The stock’s fifty day moving average price is $8.40 and its two-hundred day moving average price is $9.82.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WBD. Barclays lowered their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 29th. Citigroup lowered their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Finally, Barrington Research lowered their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average price target of $13.83.

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.