FORA Capital LLC Acquires Shares of 220,146 Warner Bros. Discovery, Inc. $WBD

FORA Capital LLC bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 220,146 shares of the company’s stock, valued at approximately $4,299,000. Warner Bros. Discovery makes up approximately 0.8% of FORA Capital LLC’s investment portfolio, making the stock its 27th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC lifted its position in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after buying an additional 51,920 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Warner Bros. Discovery by 50.5% during the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after buying an additional 21,228 shares during the last quarter. Empowered Funds LLC grew its holdings in Warner Bros. Discovery by 6.2% in the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after buying an additional 3,779 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock worth $1,254,000 after acquiring an additional 55,837 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in shares of Warner Bros. Discovery by 7.5% in the 2nd quarter. AE Wealth Management LLC now owns 29,745 shares of the company’s stock worth $341,000 after acquiring an additional 2,086 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Priya Aiyar sold 223,512 shares of Warner Bros. Discovery stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.24, for a total value of $6,311,978.88. Following the completion of the sale, the insider owned 919,252 shares in the company, valued at approximately $25,959,676.48. This trade represents a 19.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce Campbell sold 41,784 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $27.82, for a total value of $1,162,430.88. Following the completion of the sale, the insider directly owned 604,666 shares in the company, valued at approximately $16,821,808.12. The trade was a 6.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 7,571,827 shares of company stock valued at $213,302,225. 1.90% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.14 on Friday. The stock has a fifty day simple moving average of $28.15 and a 200-day simple moving average of $23.77. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87. The stock has a market cap of $67.25 billion, a PE ratio of 93.59 and a beta of 1.60. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.19). Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.33 billion. During the same quarter last year, the firm posted ($0.20) earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WBD has been the topic of several analyst reports. Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 23rd. Morgan Stanley set a $29.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 18th. Finally, Barrington Research cut shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.30.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.