Clifford Swan Investment Counsel LLC Reduces Stake in Warner Bros. Discovery, Inc. $WBD

Clifford Swan Investment Counsel LLC trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 75.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,632 shares of the company’s stock after selling 203,144 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Warner Bros. Discovery were worth $1,301,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Concord Wealth Partners boosted its position in shares of Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in Warner Bros. Discovery by 152.1% during the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after acquiring an additional 847 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Warner Bros. Discovery in the second quarter valued at about $29,000. Grove Bank & Trust lifted 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 purchasing an additional 675 shares in the last quarter. Finally, Crews Bank & Trust grew its position in shares of Warner Bros. Discovery by 1,242.2% in the third quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after purchasing an additional 1,590 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Key Warner Bros. Discovery News

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

• Positive Sentiment: Paramount’s acquisition agreement announced — a $31-per-share cash deal values WBD at roughly $110 billion and is now a formal merger agreement, creating a clear path to a cash exit for shareholders. PR Newswire
• Positive Sentiment: Netflix exits the bidding — Netflix declined to raise its offer after Paramount’s $31 bid was declared superior, reducing takeover uncertainty and making a Paramount close more likely. Reuters
• Positive Sentiment: EU approval expected to be manageable — sources tell Reuters the deal is likely to clear EU antitrust scrutiny with only minor divestments if required, lowering one regulatory hurdle. Reuters
• Neutral Sentiment: Analyst reactions mixed — several firms updated ratings/targets (TD Cowen raised its PT to $26 but kept a hold; Deutsche Bank moved to hold with a $31 PT), reflecting divided views on deal certainty and standalone fundamentals. MarketScreener (TD Cowen) MarketScreener (Deutsche Bank)
• Negative Sentiment: Q4 results disappointed — WBD posted a loss per share and revenue declined ~6% year/year, missing EPS expectations and underscoring legacy TV/studio weakness despite streaming growth. That weak print amplifies uncertainty around valuation and growth prospects. WBD press release / earnings
• Negative Sentiment: Employee and synergy risk — CNBC reports WBD staff fear layoffs if Paramount pursues roughly $6B of cost synergies; job cuts and integration execution could create operational disruption and headline risk. CNBC
• Negative Sentiment: Political/regulatory friction remains — California and other political actors could still slow the deal; state-level opposition and broader antitrust scrutiny remain possible roadblocks. Reuters
• Negative Sentiment: Options and sentiment signal volatility — today saw an unusually large spike in put option volume, indicating elevated hedging/speculative bearish positioning even as a cash deal price anchors the stock.

Analysts Set New Price Targets

WBD has been the topic of a number of recent research reports. Weiss Ratings raised Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Argus upped their price objective on Warner Bros. Discovery from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. UBS Group lifted their price objective on Warner Bros. Discovery from $20.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Morgan Stanley set a $29.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 18th. Finally, Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.39.

Insider Buying and Selling

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori C. Locke sold 5,000 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $27.62, for a total value of $138,100.00. Following the sale, the chief accounting officer owned 110,084 shares of the company’s stock, valued at $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 257,116 shares of company stock worth $7,546,331. 1.90% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Down 2.2%

Shares of NASDAQ:WBD opened at $28.17 on Friday. 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 firm has a market cap of $69.80 billion, a price-to-earnings ratio of 97.14 and a beta of 1.64. The stock’s 50-day moving average price is $28.37 and its two-hundred day moving average price is $22.66. 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, February 26th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.19). Warner Bros. Discovery had a return on equity of 1.99% and a net margin of 1.95%.The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. During the same quarter in the previous year, the company earned ($0.20) earnings per share. The company’s revenue was down 5.7% on a year-over-year basis. On average, research 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.