Aberdeen Group plc Grows Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Aberdeen Group plc significantly increased its stake in Warner Bros. Discovery by 121.4%, owning approximately 1.5 million shares worth around $16 million.
• Institutional investors hold 59.95% of Warner Bros. Discovery's stock, with various firms reporting new acquisitions during the 1st quarter of the year.
• Warner Bros. Discovery recently reported an EPS of $0.63, surpassing analysts' expectations and showing a year-over-year revenue increase of 1.0%.

Aberdeen Group plc grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 121.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,523,407 shares of the company's stock after purchasing an additional 835,222 shares during the quarter. Aberdeen Group plc owned approximately 0.06% of Warner Bros. Discovery worth $16,003,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WBD. Financial Gravity Asset Management Inc. acquired a new stake in shares of Warner Bros. Discovery in the first quarter worth $27,000. North Capital Inc. acquired a new position in Warner Bros. Discovery during the 1st quarter worth about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery during the 1st quarter worth about $29,000. Ameriflex Group Inc. acquired a new position in Warner Bros. Discovery during the 4th quarter valued at about $30,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Warner Bros. Discovery by 448.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock valued at $31,000 after acquiring an additional 2,352 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. UBS Group lifted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Argus raised Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Finally, KeyCorp decreased their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and an average target price of $13.14.

Warner Bros. Discovery Stock Up 0.4%

NASDAQ:WBD traded up $0.05 during trading hours on Thursday, reaching $11.59. 38,559,513 shares of the company traded hands, compared to its average volume of 57,993,016. The stock has a market capitalization of $28.69 billion, a P/E ratio of 38.47, a P/E/G ratio of 1.54 and a beta of 1.57. The business's 50-day moving average price is $11.81 and its two-hundred day moving average price is $10.40. Warner Bros. Discovery, Inc. has a 1 year low of $6.78 and a 1 year high of $13.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the previous year, the company posted ($4.07) earnings per share. Warner Bros. Discovery's revenue was up 1.0% compared to the same quarter last year. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy bought 250,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director owned 874,000 shares in the company, valued at $9,526,600. This represents a 40.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% 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.