Clarkston Capital Partners LLC Has $14.83 Million Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Clarkston Capital Partners slashed its Warner Bros. Discovery stake by 81.8% in the fourth quarter, selling more than 2.3 million shares and ending with 514,700 shares worth about $14.83 million.
• Merger hopes are rising after reports that the DOJ cleared Paramount Skydance’s proposed acquisition of Warner Bros. Discovery, removing a major antitrust hurdle and raising the prospect of a takeover premium for shareholders.
• Warner Bros. Discovery posted mixed recent fundamentals, missing EPS expectations in its latest quarter while revenue matched estimates; analysts currently rate the stock a Hold on average with a consensus price target of $27.04.

Clarkston Capital Partners LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 81.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 514,700 shares of the company's stock after selling 2,312,125 shares during the quarter. Clarkston Capital Partners LLC's holdings in Warner Bros. Discovery were worth $14,834,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WBD. Brighton Jones LLC boosted its position in Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after acquiring an additional 51,920 shares during the period. NewEdge Advisors LLC boosted its position in Warner Bros. Discovery by 50.5% during the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company's stock worth $679,000 after acquiring an additional 21,228 shares during the period. Empowered Funds LLC boosted its position in Warner Bros. Discovery by 6.2% during the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company's stock worth $698,000 after acquiring an additional 3,779 shares during the period. Focus Partners Wealth boosted its position in Warner Bros. Discovery by 91.6% during 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 period. Finally, Baird Financial Group Inc. boosted its position in Warner Bros. Discovery by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company's stock worth $1,277,000 after acquiring an additional 4,062 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

More Warner Bros. Discovery News

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: The DOJ reportedly cleared Paramount Skydance’s acquisition of Warner Bros. Discovery, removing a key antitrust obstacle and improving the chances the deal closes. Justice Department says Paramount's Warner deal wouldn't harm competition
• Positive Sentiment: Reports that the merger was approved helped fuel speculation that Warner Bros. Discovery shareholders could benefit from a takeover premium if the deal advances. Paramount-WBD merger wins approval from DOJ, source says
• Neutral Sentiment: Shareholders rejected David Zaslav’s proposed $165 million pay package for 2025 in a non-binding vote, which adds governance noise but is not likely to change the near-term merger story. Warner Bros. Shareholders Reject David Zaslav's $165 Million Pay Package for 2025

Warner Bros. Discovery Stock Up 0.4%

Shares of Warner Bros. Discovery stock opened at $26.98 on Friday. The firm has a market cap of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. Warner Bros. Discovery, Inc. has a 52-week low of $9.98 and a 52-week high of $30.00. The stock has a 50-day simple moving average of $27.12 and a 200-day simple moving average of $27.53.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Fazal F. Merchant sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the transaction, the director directly owned 95,539 shares of the company's stock, valued at approximately $2,625,411.72. This trade represents a 26.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul A. Gould sold 600,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the transaction, the director directly owned 244,357 shares in the company, valued at $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on WBD. Sanford C. Bernstein raised their price objective on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a "market perform" rating in a research report on Tuesday, February 24th. Raymond James Financial restated an "underperform" rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Weiss Ratings lowered Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Zacks Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Finally, Rothschild & Co Redburn set a $31.00 price target on Warner Bros. Discovery and gave the company a "neutral" rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.04.

Warner Bros. Discovery Company 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.

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