Warner Bros. Discovery, Inc. $WBD Shares Sold by Clifford Swan Investment Counsel LLC

Key Points

• Clifford Swan Investment Counsel LLC cut its Warner Bros. Discovery stake by 77.5% in the fourth quarter, selling 51,614 shares and leaving it with 15,018 shares worth about $433,000.
• Other institutional investors were also active in WBD, with several firms increasing their positions and institutions overall owning 59.95% of the stock.
• Warner Bros. Discovery remains under pressure from the proposed Paramount Skydance acquisition, as state attorneys general and Senator Elizabeth Warren are raising antitrust and foreign-ownership concerns that could delay or derail the deal.

Clifford Swan Investment Counsel LLC lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 77.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,018 shares of the company's stock after selling 51,614 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Warner Bros. Discovery were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WBD. Vise Technologies Inc. grew its position in Warner Bros. Discovery by 80.2% during the fourth quarter. Vise Technologies Inc. now owns 49,093 shares of the company's stock valued at $1,415,000 after buying an additional 21,845 shares during the period. TD Asset Management Inc grew its position in Warner Bros. Discovery by 1.8% during the fourth quarter. TD Asset Management Inc now owns 977,018 shares of the company's stock valued at $28,158,000 after buying an additional 16,963 shares during the period. Cibc World Market Inc. grew its position in Warner Bros. Discovery by 884.1% during the fourth quarter. Cibc World Market Inc. now owns 261,568 shares of the company's stock valued at $7,538,000 after buying an additional 234,988 shares during the period. Lido Advisors LLC grew its position in Warner Bros. Discovery by 5.6% during the fourth quarter. Lido Advisors LLC now owns 67,217 shares of the company's stock valued at $1,937,000 after buying an additional 3,577 shares during the period. Finally, Avestar Capital LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter valued at $517,000. Institutional investors and hedge funds own 59.95% of the company's stock.

More Warner Bros. Discovery News

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

• Positive Sentiment: Warner Bros. Discovery signed a World Series of Poker broadcast deal, which adds another content partnership and could support its media and sports programming strategy. WBD signs World Series of Poker broadcast deal
• Neutral Sentiment: Analysts noted WBD has been little changed since its last earnings report, with investors still waiting for a clearer operational turnaround. Warner Bros. Discovery (WBD) Down 0.4% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Paramount is seeking to dismiss a lawsuit aimed at blocking the Warner Bros. Discovery transaction, while other reports say states are preparing their own legal challenge, keeping the deal in limbo. U.S. states are preparing a lawsuit to block Paramount's acquisition of Warner Bros
• Negative Sentiment: State attorneys general planning a lawsuit to block the Paramount Skydance acquisition of Warner Bros. Discovery is the biggest near-term concern, since it raises the odds of delay or even failure of the deal. Stock Market Today, June 5: Warner Bros. Discovery Falls on Reports of State Antitrust Challenge to Paramount Deal
• Negative Sentiment: Political scrutiny is increasing, with Senator Elizabeth Warren calling for a foreign-ownership review of the Paramount-WBD deal, adding another potential hurdle. Elizabeth Warren Calls For Foreign Ownership Review Of Paramount-WBD

Warner Bros. Discovery Stock Performance

WBD opened at $26.24 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The company has a market cap of $65.79 billion, a price-to-earnings ratio of -37.49 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $9.11 and a 52-week high of $30.00. The firm's fifty day simple moving average is $27.18 and its two-hundred day simple moving average is $27.40.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $8.89 billion for the quarter, compared to analysts' expectations 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 business's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) earnings per share. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on WBD. Sanford C. Bernstein raised their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a "market perform" rating in a research report on Tuesday, February 24th. UBS Group raised their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 8th. Arete Research restated a "neutral" rating and set a $31.25 price target on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating and raised their price target for the company from $29.50 to $31.00 in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Hold" and an average price target of $27.04.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director directly owned 244,357 shares of the company's stock, valued at $6,683,163.95. This trade represents a 71.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce Campbell sold 41,784 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 676,784 shares of company stock valued at $18,534,231 over the last ninety days. Corporate insiders own 1.90% of the company's stock.

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.

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