abrdn plc Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

abrdn plc grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,557,678 shares of the company's stock after buying an additional 318,496 shares during the period. abrdn plc owned 0.06% of Warner Bros. Discovery worth $17,726,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Oppenheimer & Co. Inc. increased its position in Warner Bros. Discovery by 15.2% during the third quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company's stock worth $4,442,000 after acquiring an additional 53,909 shares during the period. Daiwa Securities Group Inc. increased its position in Warner Bros. Discovery by 39.9% during the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company's stock worth $4,594,000 after acquiring an additional 120,586 shares during the period. New South Capital Management Inc. increased its position in Warner Bros. Discovery by 21.1% during the third quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company's stock worth $44,334,000 after acquiring an additional 711,820 shares during the period. Assenagon Asset Management S.A. increased its position in Warner Bros. Discovery by 4.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company's stock worth $9,168,000 after acquiring an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC bought a new position in Warner Bros. Discovery during the fourth quarter worth about $105,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating on the stock in a report on Thursday, February 29th. Wells Fargo & Company downgraded shares of Warner Bros. Discovery from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. Macquarie lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Monday, January 22nd. Redburn Atlantic lowered shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating and set a $11.00 price objective for the company. in a research note on Thursday, January 11th. Finally, Benchmark restated a "buy" rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.83.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded down $0.09 during trading hours on Thursday, hitting $8.29. The company's stock had a trading volume of 24,660,655 shares, compared to its average volume of 26,472,490. Warner Bros. Discovery, Inc. has a 12 month low of $8.02 and a 12 month high of $14.76. The company's 50 day simple moving average is $8.69 and its two-hundred day simple moving average is $10.01. The company has a market cap of $20.23 billion, a P/E ratio of -6.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released 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). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the previous year, the business posted $0.42 earnings per share. Warner Bros. Discovery's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.35 EPS 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.