Iridian Asset Management LLC CT Decreases Holdings in Warner Bros. Discovery, Inc. $WBD

Iridian Asset Management LLC CT lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 73.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 143,177 shares of the company’s stock after selling 405,885 shares during the quarter. Warner Bros. Discovery comprises 1.1% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 27th biggest holding. Iridian Asset Management LLC CT’s holdings in Warner Bros. Discovery were worth $2,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Financial Gravity Companies Inc. acquired a new position in Warner Bros. Discovery in the second quarter valued at approximately $29,000. Grove Bank & Trust raised its holdings in Warner Bros. Discovery by 66.5% during the third quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after purchasing an additional 675 shares in the last quarter. Trifecta Capital Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $34,000. Crews Bank & Trust lifted its position in shares of Warner Bros. Discovery by 1,242.2% during the 3rd quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock worth $34,000 after buying an additional 1,590 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its holdings in shares of 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 buying an additional 819 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 918,940 shares in the company, valued at $27,108,730. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction on 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 directly owned 110,084 shares of the company’s stock, valued at approximately $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 489,326 shares of company stock worth $12,781,456 over the last quarter. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $28.89 on Monday. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $30.00. The stock has a market capitalization of $71.59 billion, a price-to-earnings ratio of 152.06 and a beta of 1.56. The company has a 50-day simple moving average of $26.03 and a 200-day simple moving average of $18.86. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07.

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

Key Headlines Impacting Warner Bros. Discovery

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

• Positive Sentiment: Market analysts note WBD could benefit if Paramount raises its bid or more suitors emerge, creating a potential bidding war that would lift the stock above current levels. Warner Bros. Rejects Paramount’s Offer—How It Affects WBD, NFLX, PSKY
• Positive Sentiment: Paramount Skydance has publicly reaffirmed its $30 per share all‑cash offer, keeping pressure on WBD’s board and preserving the possibility of a higher cash bid that would be immediately valuable to shareholders. PARAMOUNT REAFFIRMS COMMITMENT TO DELIVERING SUPERIOR $30 PER SHARE ALL-CASH OFFER TO WARNER BROS. DISCOVERY SHAREHOLDERS
• Neutral Sentiment: Some large WBD investors are split on Paramount’s offer, meaning shareholder votes could become decisive — this keeps the outcome uncertain but preserves upside if holders defect from the board’s recommendation. Some of Warner Bros’ biggest investors are split on Paramount offer
• Neutral Sentiment: Retail and momentum interest in WBD is elevated (ranked as a trending stock by some services), which can amplify intraday moves during takeover news. Is Trending Stock Warner Bros. Discovery, Inc. (WBD) a Buy Now?
• Negative Sentiment: Paramount has taken an antitrust argument to lawmakers, calling the Netflix‑WBD combination “presumptively unlawful,” which increases regulatory risk and could slow or block the Netflix deal — a headwind for near‑term certainty. Paramount Tells Lawmakers That Netflix-WBD Merger Is “Presumptively Unlawful”
• Negative Sentiment: Paramount is publicly attacking WBD’s planned asset spin‑offs and valuation assumptions (e.g., arguing the cable network spin‑off adds little value), escalating legal and narrative battles that add execution risk for any deal. Why Paramount is now saying the TV networks it wants to buy from WBD are worth $0.00 per share

Wall Street Analyst Weigh In

Several brokerages recently commented on WBD. TD Cowen lifted their price target on shares of Warner Bros. Discovery from $14.00 to $22.00 in a research note on Friday, November 7th. Argus set a $28.00 price objective on Warner Bros. Discovery in a report on Monday, December 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Warner Bros. Discovery in a research report on Monday, December 29th. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. Finally, Cowen downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.22.

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.