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

abrdn plc raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,557,678 shares of the company’s stock after purchasing 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 reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fortis Group Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth about $25,000. Pacifica Partners Inc. lifted its position in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares in the last quarter. Peoples Bank KS purchased a new stake in Warner Bros. Discovery during the third quarter worth approximately $27,000. Milestone Investment Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth $28,000. Finally, Headinvest LLC purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WBD. Morgan Stanley lowered their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Macquarie decreased their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Finally, Citigroup dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $8.38 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of -6.55 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 52 week low of $8.02 and a 52 week high of $14.76. The stock has a 50 day moving average of $8.72 and a 200-day moving average of $10.02.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $10.28 billion during the quarter, compared to analyst estimates 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 for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current 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.