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

abrdn plc trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 688,185 shares of the company's stock after selling 90,187 shares during the period. abrdn plc's holdings in Warner Bros. Discovery were worth $7,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of WBD. State Street Corp increased its position in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. increased its position in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in Warner Bros. Discovery by 2.6% during the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company's stock worth $176,523,000 after purchasing an additional 541,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company's stock worth $172,338,000 after purchasing an additional 329,620 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company's stock worth $129,405,000 after purchasing an additional 687,612 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 0.3 %

Shares of WBD stock traded down $0.03 during trading on Wednesday, reaching $9.82. The company's stock had a trading volume of 17,494,624 shares, compared to its average volume of 25,766,928. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $24.09 billion, a price-to-earnings ratio of -2.14, a P/E/G ratio of 7.98 and a beta of 1.49. The stock's 50-day moving average price is $10.41 and its 200 day moving average price is $9.02. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WBD shares. Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Barrington Research reaffirmed an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday, December 13th. KeyCorp increased their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 10th. Barclays increased their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. Finally, Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.76.

About Warner Bros. Discovery

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.