10 Best Spin Off Stocks to Buy According to Hedge Funds

2. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Number of Hedge Fund Holders: 49

Warner Bros. Discovery Inc. (NASDAQ:WBD) is a global entertainment and media corporation formed by the merger of WarnerMedia and Discovery, Inc. in April 2022. The corporation owns several important brands and products, including Discovery Channel, Max, Discovery+, and CNN, among others.

Warner Bros. Discovery Inc. (NASDAQ:WBD) stated back in December that it will separate its operations into two major divisions: “Global Linear Networks” and “Streaming & Studios.” This reorganization intends to boost strategic flexibility and provide new opportunities for future growth.

Warner Bros. Discovery Inc. (NASDAQ:WBD) is set to release its fiscal Q4 2024 earnings on February 27. The company is predicted to have a profit of $0.11 per share, up 168.8% from the previous year’s loss of $0.16. This is significant since only one of the previous four quarters did the company meet consensus estimates.