Aberdeen Group plc Has $18.21 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Aberdeen Group plc increased its investment in Warner Bros. Discovery, inc. by 4.3%, now holding approximately $18.21 million worth of shares, following a purchase of 65,850 shares in the second quarter.
• Warner Bros. Discovery reported earnings of $0.63 per share for the latest quarter, exceeding expectations, and had a revenue of $9.81 billion, up 1% from the previous year.
• Insider transactions included a sale of 150,000 shares by insider Bruce Campbell and a purchase of 75,000 shares by Director Anton J. Levy, reflecting significant activity among company executives.

Aberdeen Group plc lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,589,257 shares of the company's stock after buying an additional 65,850 shares during the quarter. Aberdeen Group plc owned about 0.06% of Warner Bros. Discovery worth $18,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WBD. Independent Franchise Partners LLP acquired a new stake in shares of Warner Bros. Discovery in the first quarter worth $140,224,000. Nuveen LLC acquired a new position in Warner Bros. Discovery during the 1st quarter valued at $96,971,000. KBC Group NV raised its stake in Warner Bros. Discovery by 682.8% during the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after purchasing an additional 6,232,561 shares during the last quarter. Apollo Management Holdings L.P. acquired a new position in Warner Bros. Discovery during the 1st quarter valued at $65,031,000. Finally, Dimensional Fund Advisors LP raised its stake in Warner Bros. Discovery by 63.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company's stock valued at $137,700,000 after purchasing an additional 4,994,894 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 1.1%

WBD opened at $17.98 on Wednesday. The firm's 50-day simple moving average is $15.14 and its 200-day simple moving average is $11.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a twelve month low of $7.25 and a twelve month high of $20.24. The firm has a market cap of $44.51 billion, a price-to-earnings ratio of 59.94, a PEG ratio of 2.17 and a beta of 1.73.

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

Insider Transactions at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 150,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider owned 252,464 shares in the company, valued at $4,544,352. This represents a 37.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anton J. Levy bought 75,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, the director owned 949,000 shares in the company, valued at approximately $10,439,000. This trade represents a 8.58% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 970,115 shares of company stock valued at $17,818,490. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WBD has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Guggenheim upped their target price on shares of Warner Bros. Discovery from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Sanford C. Bernstein upped their target price on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a "market perform" rating in a research note on Monday, September 22nd. Finally, Barclays set a $20.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $16.61.

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.

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