Forum Financial Management LP Acquires 18,913 Shares of Warner Bros. Discovery, Inc. $WBD

Forum Financial Management LP increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 39.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,764 shares of the company's stock after purchasing an additional 18,913 shares during the period. Forum Financial Management LP's holdings in Warner Bros. Discovery were worth $765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBD. WPG Advisers LLC bought a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery during the first quarter valued at approximately $27,000. North Capital Inc. purchased a new stake in Warner Bros. Discovery during the first quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Warner Bros. Discovery during the first quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC lifted its position in Warner Bros. Discovery by 448.0% during the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock valued at $31,000 after acquiring an additional 2,352 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WBD shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Warner Bros. Discovery from $19.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday. UBS Group increased their target price on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. TD Cowen reissued a "hold" rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, September 16th. Singular Research raised shares of Warner Bros. Discovery to a "moderate buy" rating in a research report on Wednesday. Finally, Raymond James Financial increased their target price on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and sixteen have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.68.

Warner Bros. Discovery Trading Up 3.5%

NASDAQ WBD opened at $21.25 on Friday. The company has a fifty day simple moving average of $16.22 and a two-hundred day simple moving average of $12.35. The stock has a market cap of $52.61 billion, a P/E ratio of 70.84, a P/E/G ratio of 2.49 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 12-month low of $7.35 and a 12-month high of $21.56. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted ($4.07) earnings per share. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 75,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the purchase, the director directly owned 949,000 shares of the company's stock, valued at $10,439,000. The trade was a 8.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction on 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 970,115 shares of company stock worth $17,818,490 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

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.

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