Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,446 shares of the company's stock after selling 41,329 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Warner Bros. Discovery were worth $4,157,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WBD. Colonial Trust Advisors lifted its position in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Warner Bros. Discovery in the 1st quarter valued at about $27,000. North Capital Inc. bought a new stake in Warner Bros. Discovery in the 1st quarter valued at about $28,000. Graney & King LLC acquired a new position in Warner Bros. Discovery during the 4th quarter valued at about $28,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery during the 1st quarter valued at about $29,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WBD. KeyCorp decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Wells Fargo & Company boosted their target price on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, Benchmark reaffirmed a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus price target of $12.41.

Warner Bros. Discovery Trading Up 0.3%

Shares of NASDAQ WBD traded up $0.04 during midday trading on Monday, reaching $12.79. The stock had a trading volume of 3,464,743 shares, compared to its average volume of 38,154,536. The firm has a market cap of $31.38 billion, a price-to-earnings ratio of -2.91 and a beta of 1.54. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. The company's 50 day moving average price is $10.45 and its 200 day moving average price is $10.02.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The firm 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 30.56% and a negative net margin of 28.16%. The company's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.40) earnings per share. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS 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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