Clifford Swan Investment Counsel LLC Sells 117,670 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Clifford Swan Investment Counsel LLC reduced its holdings in Warner Bros. Discovery by 30.4%, selling 117,670 shares and leaving them with 269,776 shares valued at approximately $3,092,000.
• Insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery stock for about $4.77 million, while Director Anton J. Levy increased his stake with a purchase of 250,000 shares valued at approximately $2.73 million.
• Analyst ratings vary for WBD, with a consensus rating of "Hold" and a price target of $17.68, while some analysts have set targets as high as $25.00.

Clifford Swan Investment Counsel LLC trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 30.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 269,776 shares of the company's stock after selling 117,670 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Warner Bros. Discovery were worth $3,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WBD. Brighton Jones LLC boosted its stake in Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after purchasing an additional 51,920 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Warner Bros. Discovery by 16.1% in the first quarter. GAMMA Investing LLC now owns 45,942 shares of the company's stock worth $493,000 after acquiring an additional 6,354 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Warner Bros. Discovery by 10.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,774 shares of the company's stock worth $2,380,000 after purchasing an additional 21,147 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Warner Bros. Discovery by 70.8% during the first quarter. QRG Capital Management Inc. now owns 19,500 shares of the company's stock valued at $209,000 after purchasing an additional 8,083 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Warner Bros. Discovery in the first quarter valued at approximately $757,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on WBD shares. Barrington Research reiterated an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. Cowen downgraded shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Warner Bros. Discovery from $19.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday. Bank of America lifted their target price on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Finally, Benchmark raised their price target on Warner Bros. Discovery from $18.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and sixteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of "Hold" and a consensus price target of $17.68.

Insider Transactions at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 289,322 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total value of $4,768,026.56. Following the sale, the insider owned 402,464 shares of the company's stock, valued at $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anton J. Levy acquired 250,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares in the company, valued at $9,526,600. This represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 over the last three months. Company insiders own 1.90% of the company's stock.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $20.53 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $21.22. The firm has a fifty day moving average of $16.03 and a 200-day moving average of $12.26. The firm has a market capitalization of $50.83 billion, a price-to-earnings ratio of 68.44, a price-to-earnings-growth ratio of 2.48 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the previous year, the firm posted ($4.07) earnings per share. The business's revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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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