Warner Bros. Discovery, Inc. $WBD Shares Acquired by Forum Financial Management LP

Forum Financial Management LP grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 39.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,764 shares of the company’s stock after acquiring an additional 18,913 shares during the period. Forum Financial Management LP’s holdings in Warner Bros. Discovery were worth $765,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Eastern Bank raised its position in shares of Warner Bros. Discovery by 11.6% in the second quarter. Eastern Bank now owns 8,452 shares of the company’s stock worth $97,000 after acquiring an additional 879 shares during the period. Apollon Wealth Management LLC raised its position in shares of Warner Bros. Discovery by 2.1% in the second quarter. Apollon Wealth Management LLC now owns 45,733 shares of the company’s stock worth $524,000 after acquiring an additional 948 shares during the period. Parkside Investments LLC raised its position in shares of Warner Bros. Discovery by 0.3% in the second quarter. Parkside Investments LLC now owns 346,654 shares of the company’s stock worth $3,973,000 after acquiring an additional 1,000 shares during the period. Avior Wealth Management LLC raised its position in shares of Warner Bros. Discovery by 8.8% in the second quarter. Avior Wealth Management LLC now owns 14,545 shares of the company’s stock worth $167,000 after acquiring an additional 1,176 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Warner Bros. Discovery by 9.7% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,704 shares of the company’s stock worth $157,000 after acquiring an additional 1,213 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Seaport Global Securities lifted their target price on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Benchmark lifted their target price on shares of Warner Bros. Discovery from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Warner Bros. Discovery from $14.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, October 16th. Weiss Ratings upgraded shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Cowen lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average price target of $17.68.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy purchased 250,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the transaction, the director owned 874,000 shares of the company’s stock, valued at $9,526,600. The trade was a 40.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is owned by insiders.

Warner Bros. Discovery Stock Performance

WBD opened at $21.25 on Friday. The firm has a market capitalization of $52.61 billion, a PE ratio of 70.84, a PEG ratio of 2.49 and a beta of 1.73. Warner Bros. Discovery, Inc. has a twelve month low of $7.35 and a twelve month high of $21.56. The firm’s 50-day moving average price is $16.22 and its 200 day moving average price is $12.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. Warner Bros. Discovery’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted ($4.07) earnings per share. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.