abrdn plc Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

abrdn plc lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 778,372 shares of the company’s stock after buying an additional 175,895 shares during the quarter. abrdn plc’s holdings in Warner Bros. Discovery were worth $6,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in shares of Warner Bros. Discovery in the second quarter worth about $26,000. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery in the first quarter valued at approximately $27,000. OFI Invest Asset Management raised its stake in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. Transcendent Capital Group LLC raised its stake in Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in Warner Bros. Discovery in the first quarter valued at approximately $39,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBD has been the topic of a number of recent analyst reports. Morgan Stanley lowered 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 research note on Monday, July 29th. Moffett Nathanson lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. TD Cowen lowered their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company lowered their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.66.

Warner Bros. Discovery Stock Up 1.2 %

Shares of Warner Bros. Discovery stock opened at $8.23 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The stock has a market capitalization of $20.18 billion, a price-to-earnings ratio of -1.71 and a beta of 1.48. The company’s 50 day moving average price is $7.83 and its 200-day moving average price is $7.82.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.51) EPS. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.5 EPS for the current year.

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.