Clifford Swan Investment Counsel LLC Sells 41,329 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Clifford Swan Investment Counsel LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.6% during the 1st quarter, HoldingsChannel.com reports. 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 reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Prudential PLC lifted its holdings in shares of Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company’s stock worth $1,429,000 after acquiring an additional 32,102 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $4,914,000. Polar Asset Management Partners Inc. bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $3,022,000. Hi Line Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 17.8% in the first quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company’s stock worth $6,411,000 after buying an additional 90,462 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock worth $3,076,000 after buying an additional 10,024 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays raised their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Raymond James Financial cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, June 9th. KeyCorp reduced their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Bank of America boosted their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.41.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded up $0.04 during trading on Monday, hitting $12.79. 3,464,743 shares of the stock traded hands, compared to its average volume of 38,154,536. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The company has a market cap of $31.38 billion, a price-to-earnings ratio of -2.91 and a beta of 1.54. The company has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $10.02. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $13.04.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. Warner Bros. Discovery’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.40) earnings per share. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery Profile

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.