Crossmark Global Holdings Inc. Reduces Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Crossmark Global Holdings cut its Warner Bros. Discovery stake by 31.5% in the fourth quarter, selling 57,060 shares and leaving it with 123,927 shares worth about $3.57 million.
• Warner Bros. Discovery’s streaming business remains a bright spot, with management saying the company has topped 140 million subscribers and calling HBO Max one of its most important assets.
• The latest quarter was weighed down by weak earnings and large one-time charges, including a $2.8 billion Netflix termination fee, leading to a much larger-than-expected loss of $1.17 per share and a roughly $2.9 billion net loss.

Crossmark Global Holdings Inc. decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,927 shares of the company's stock after selling 57,060 shares during the period. Crossmark Global Holdings Inc.'s holdings in Warner Bros. Discovery were worth $3,574,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Rakuten Securities Inc. increased its holdings in shares of Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock valued at $33,000 after acquiring an additional 521 shares during the period. TOWER TRUST & INVESTMENT Co boosted its stake in Warner Bros. Discovery by 4,730.8% during the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock worth $36,000 after purchasing an additional 1,230 shares during the period. Concord Wealth Partners boosted its stake in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock worth $26,000 after purchasing an additional 440 shares during the period. Physician Wealth Advisors Inc. grew its position in Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock worth $27,000 after purchasing an additional 847 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its stake in Warner Bros. Discovery by 226.1% in the fourth quarter. Richardson Financial Services Inc. now owns 1,647 shares of the company's stock valued at $47,000 after purchasing an additional 1,142 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Key Warner Bros. Discovery News

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

• Positive Sentiment: Streaming remains a bright spot, with Warner Bros. Discovery topping 140 million subscribers and management highlighting strong momentum in its direct-to-consumer business. Warner Bros. Discovery Earnings Call Highlights Streaming Surge
• Positive Sentiment: HBO Max was described by David Zaslav as likely the company’s “most important asset,” reinforcing the value of WBD’s streaming platform as a key long-term driver. David Zaslav Says HBO Max Is “Probably” Warner Bros. Discovery’s “Most Important Asset”
• Neutral Sentiment: Warner Bros. TV announced special podcast episodes for The Pitt, a small content-related update that may help engagement but is unlikely to materially move the stock. Warner Bros TV Announces Special Podcast Episodes For “The Pitt”
• Neutral Sentiment: Guggenheim reiterated a neutral rating, signaling analysts are waiting for clearer evidence that earnings and the strategic outlook are improving. Guggenheim Reaffirms Neutral Rating on Warner Bros. Discovery
• Negative Sentiment: Q1 results missed expectations, with WBD posting a $1.17 per-share loss versus a much smaller expected loss, while revenue came in just below estimates and declined year over year. Warner Bros. Discovery reports Q1 CY2026 in line with expectations
• Negative Sentiment: The quarter was heavily burdened by a $2.8 billion Netflix termination fee and restructuring costs, which drove a roughly $2.9 billion net loss and overshadowed operational progress. Warner Bros. Discovery posts wider Q1 loss driven by $2.8B Netflix termination fee
• Negative Sentiment: Media coverage focused on the large loss and weaker-than-expected results, reinforcing concerns that near-term earnings are still being weighed down by one-time and integration-related charges. Warner Bros. Discovery Logs $2.92 Billion Loss Tied to Netflix Termination Fee

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $27.11 on Monday. The firm has a market cap of $67.96 billion, a price-to-earnings ratio of -38.73 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 52-week low of $8.82 and a 52-week high of $30.00. The company's 50-day simple moving average is $27.48 and its 200-day simple moving average is $26.66. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the business earned ($0.18) EPS. Warner Bros. Discovery's revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research reports. TD Cowen upped their target price on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a "hold" rating in a report on Friday, February 27th. Rothschild & Co Redburn set a $31.00 price target on Warner Bros. Discovery and gave the company a "neutral" rating in a research report on Tuesday, February 17th. Guggenheim reaffirmed a "neutral" rating on shares of Warner Bros. Discovery in a research note on Thursday. Sanford C. Bernstein increased their price objective on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a "market perform" rating in a research report on Tuesday, February 24th. Finally, Arete Research reiterated a "neutral" rating and issued a $31.25 target price on shares of Warner Bros. Discovery in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.36.

Insiders Place Their Bets

In related news, insider Gerhard Zeiler sold 600,000 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the transaction, the insider owned 672,649 shares of the company's stock, valued at $18,847,624.98. This represents a 47.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul A. Gould sold 600,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the transaction, the director owned 244,357 shares of the company's stock, valued at $6,683,163.95. The trade was a 71.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 8,206,827 shares of company stock worth $230,674,025. Corporate insiders own 1.80% of the company's stock.

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.

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