Cibc World Market Inc. Cuts Stake in Warner Bros. Discovery, Inc. $WBD

Cibc World Market Inc. lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 98.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,580 shares of the company’s stock after selling 1,446,415 shares during the period. Cibc World Market Inc.’s holdings in Warner Bros. Discovery were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Caprock Group LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter worth approximately $869,000. ING Groep NV increased its position in shares of Warner Bros. Discovery by 688.1% during the third quarter. ING Groep NV now owns 291,059 shares of the company’s stock worth $5,684,000 after purchasing an additional 254,128 shares in the last quarter. Rhumbline Advisers raised its stake in Warner Bros. Discovery by 3.1% in the 3rd quarter. Rhumbline Advisers now owns 5,877,052 shares of the company’s stock valued at $114,779,000 after purchasing an additional 176,223 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at $290,000. Finally, Wealthfront Advisers LLC lifted its holdings in Warner Bros. Discovery by 12.0% in the 3rd quarter. Wealthfront Advisers LLC now owns 670,513 shares of the company’s stock valued at $13,095,000 after purchasing an additional 71,778 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 4,122 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the transaction, the chief accounting officer owned 100,962 shares of the company’s stock, valued at $2,919,821.04. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 267,116 shares of company stock worth $7,781,731 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Up 0.1%

WBD stock opened at $28.79 on Thursday. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $30.00. The firm has a market cap of $71.34 billion, a PE ratio of 151.53 and a beta of 1.64. The firm’s 50 day moving average price is $28.38 and its 200-day moving average price is $21.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07.

More Warner Bros. Discovery News

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

• Positive Sentiment: WBD has asked Paramount Skydance for a “best and final” offer, reopening the possibility of a bidding contest that could lift the takeover price and provide upside for shareholders. Warner Bros Seeks Paramount’s “Best and Final Offer,” Upside Ahead?
• Positive Sentiment: Paramount has indicated it could raise its cash offer (reports suggest $31+ per share), and Netflix has granted a short waiver — both actions increase the chance of a higher headline price or matching bids. Warner Reopens Talks With Paramount After Sweetened Offer
• Neutral Sentiment: WBD set a special shareholder meeting for March 20 and continues to recommend voting in favor of the Netflix transaction — a procedural step that keeps the Netflix deal as the baseline value for the company. Warner Bros. Discovery gives Paramount one week to present its ‘best and final’ offer
• Neutral Sentiment: Exhibitors remain cautious: Cinemark’s CEO said theater chains are “apprehensive” and want firmer commitments from Netflix on theatrical windows — this matters for regulatory optics and the valuation of theatrical rights. In Warner Merger Battle, Netflix Needs To Take “More Action” To Prove It Loves Movie Theaters, Cinemark CEO Says
• Negative Sentiment: The U.S. DOJ has begun private meetings with major theater chains to probe how a Warner sale would affect theaters — a regulatory risk that could complicate or slow approval of any transaction. US DOJ probes Warner Bros’ planned sale impact on theaters, Bloomberg News reports
• Negative Sentiment: Rothschild & Co Redburn downgraded WBD from Buy to Hold (now $31 PT), signaling more cautious analyst sentiment despite deal activity. Warner-Bros-downgraded-to-Neutral-from-Buy-at-Rothschild-&-Co-Redburn
• Negative Sentiment: Consensus analyst price target (~$24.94) sits below the current market level, and WBD warned of employee attrition risk if Paramount’s offer proceeds — both represent downside and execution risks. Warner Bros. Discovery, Inc. (NASDAQ:WBD) Receives $24.94 Consensus PT from Analysts Warner Bros. Discovery says it’s worried employees will quit if it picks Paramount’s offer

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Argus increased their target price on shares of Warner Bros. Discovery from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group increased their price objective on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a report on Friday, November 7th. Arete Research raised their target price on shares of Warner Bros. Discovery from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. TD Cowen upped their price target on Warner Bros. Discovery from $14.00 to $22.00 in a research report on Friday, November 7th. Finally, Raymond James Financial increased their price target on Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and an average target price of $25.09.

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.