Commonwealth Equity Services LLC Trims Stake in Warner Bros. Discovery, Inc. $WBD

Commonwealth Equity Services LLC cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 404,105 shares of the company’s stock after selling 98,920 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Warner Bros. Discovery were worth $7,892,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WBD. Grove Bank & Trust boosted its holdings in shares of Warner Bros. Discovery by 66.5% in the third quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after acquiring an additional 675 shares during the period. Cranbrook Wealth Management LLC raised its position in Warner Bros. Discovery by 73.8% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 1,929 shares of the company’s stock valued at $38,000 after purchasing an additional 819 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in Warner Bros. Discovery by 69.7% during the 3rd quarter. Salomon & Ludwin LLC now owns 2,075 shares of the company’s stock worth $39,000 after purchasing an additional 852 shares during the period. Financial Gravity Companies Inc. purchased a new position in Warner Bros. Discovery during the 2nd quarter worth $29,000. Finally, HM Payson & Co. increased its stake in Warner Bros. Discovery by 1,136.6% in the third quarter. HM Payson & Co. now owns 2,671 shares of the company’s stock valued at $52,000 after purchasing an additional 2,455 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In related news, CAO Lori C. Locke sold 4,122 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total transaction of $119,208.24. Following the sale, the chief accounting officer owned 100,962 shares of the company’s stock, valued at approximately $2,919,821.04. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the transaction, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 489,326 shares of company stock worth $12,781,456 over the last 90 days. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the subject of several recent research reports. Bank of America increased their target price on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Benchmark upped their price objective on Warner Bros. Discovery from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Cowen downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Warner Bros. Discovery in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.85.

Key Warner Bros. Discovery News

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

• Positive Sentiment: Netflix is reportedly considering converting its $82.7bn cash-and-stock offer into an all-cash bid for Warner Bros. Discovery’s studios and streaming assets — a move that would raise deal certainty and liquidity for shareholders. Netflix Considers Shifting Deal For Warner Bros. To All Cash – Report
• Positive Sentiment: Reporting from major outlets confirms Netflix is preparing to make its bid all-cash, reinforcing the market’s view that a cleaner, cash-heavy transaction is being negotiated. Netflix Preparing to Make Warner Bid All-Cash
• Positive Sentiment: Paramount Skydance’s hostile $30/share all-cash bid remains on the table — that competing cash offer puts upward pressure on WBD’s market value by creating a potential alternative that could force a higher price. Netflix weighs amending Warner Bros bid to make it all cash, Bloomberg News reports
• Neutral Sentiment: Warner Bros. Discovery is publicly dismissing Paramount/Skydance “gimmicks” while seeking a sweetened bid — suggests the board is actively managing auction dynamics but outcome/timing remain uncertain. Warner Bros. Discovery mocks Paramount Skydance’s merger ‘gimmicks’ as it seeks sweetened bid: sources
• Neutral Sentiment: Media commentary is framing the fight as significant for industry structure but mixed for shareholders — focus is on regulatory, creative and operational implications rather than immediate cash flows. Does it really matter who ends up owning Warner Bros.? Media exec Tom Rogers breaks it down
• Negative Sentiment: Paramount has escalated with lawsuits seeking detailed financial disclosures and has launched a proxy fight to nominate directors — litigation and governance battles increase deal risk, could delay a transaction and raise legal/transaction costs. Paramount to nominate directors for election at Warner Bros Discovery, files lawsuit
• Negative Sentiment: Multiple filings and suits (Paramount/Skydance, David Ellison) accuse WBD’s board of withholding information and misleading shareholders — stewardship/legal uncertainty could weigh on the stock if it derails or dilutes the terms of any deal. Paramount Sues WBD For Details Around Sale, Plans Proxy Fight As It Escalates Battle To Derail Netflix Deal

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $28.86 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. The stock has a 50 day simple moving average of $26.28 and a 200-day simple moving average of $19.10. The company has a market cap of $71.51 billion, a price-to-earnings ratio of 151.90 and a beta of 1.56. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The company’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.