Forum Financial Management LP Buys 28,874 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Forum Financial Management LP increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 201.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,203 shares of the company's stock after purchasing an additional 28,874 shares during the quarter. Forum Financial Management LP's holdings in Warner Bros. Discovery were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Warner Bros. Discovery by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after purchasing an additional 1,991,441 shares during the period. Norges Bank bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $362,210,000. Slate Path Capital LP grew its position in Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after acquiring an additional 6,381,000 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Warner Bros. Discovery by 7.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock valued at $249,545,000 after acquiring an additional 1,725,775 shares during the period. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Trading Down 1.9%

Shares of NASDAQ:WBD traded down $0.19 on Friday, reaching $9.85. 52,968,974 shares of the company traded hands, compared to its average volume of 33,543,291. The business's 50-day simple moving average is $8.94 and its 200 day simple moving average is $9.93. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock has a market capitalization of $24.18 billion, a P/E ratio of -2.15, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) earnings per share. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WBD. Barrington Research restated an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Barclays raised their price target on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Citigroup decreased their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday. Wells Fargo & Company raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Argus raised Warner Bros. Discovery to a "hold" rating in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and an average target price of $12.17.

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.