5 Best Short-Term Stocks To Buy Now

4. Warner Bros. Discovery Inc. (NASDAQ:WBD)

Number of Hedge Fund Holders: 60

One-year Return as of February 28: -37.67%

Warner Bros. Discovery Inc. (NASDAQ:WBD) is a communication services company. It is based in New York.

An Outperform rating was reiterated on Warner Bros. Discovery Inc. (NASDAQ:WBD) shares on January 31 by Macquarie analyst Tim Nollen.

Despite their one-year decline, Warner Bros. Discovery Inc. (NASDAQ:WBD) shares have risen by 63.73% year-to-date. Analysts like Nollen at Macquarie have place higher price targets on the stock, with Nollen’s price target standing at $20 as of January 31. In general, analysts foresee an upside potential of 18.82% on the shares.

Out of the 943 hedge funds tracked by Insider Monkey in the fourth quarter, 60 funds were long Warner Bros. Discovery Inc. (NASDAQ:WBD), with a total stake value of $1.3 billion.

Longleaf Partners, managed by Southeastern Asset Management, mentioned Warner Bros. Discovery Inc. (NASDAQ:WBD) in its fourth-quarter 2022 investor letter. Here’s what the firm said:

“Warner Bros. Discovery, Inc. (NASDAQ:WBD) – Media conglomerate Warner Bros Discovery (WBD) was another top detractor in the quarter and for the year. As has been documented in almost every form of media over the last several months, while we and WBD’s board/management knew there were things wrong at Warner Brothers under AT&T, it turned out to be even worse than expected. The aforementioned advertising market is not helping WBD either. While the brand and library values remain intact, the realization of this value has been deferred. With leverage closer to 5x than the sub-4x we thought we would be looking at in 2023, the market’s judgment has been harsh. We remain confident in management and growing free cash flow from here, with eight different insiders buying shares personally this year. We encourage you to listen to Partners Fund PM Ross Glotzbach interviewing WBD CEO and President David Zaslav in the latest episode of the Price-to-Value Podcast.”