Fisher Funds Management LTD Purchases 205,000 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Fisher Funds Management increased its Warner Bros. Discovery stake by 29.5%, purchasing 205,000 shares to bring its total holdings to 899,932 shares valued at approximately $24 million.
• Warner Bros. Discovery reported quarterly EPS of $0.06, beating estimates of a $0.14 loss, but revenue fell 11.2% year over year to $8.72 billion, below expectations.
• Merger uncertainty and insider selling remain key risks: Executives sold roughly $19.2 million of shares, while antitrust challenges to the proposed Paramount-WBD merger could delay, alter or derail the transaction.

Fisher Funds Management LTD lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 29.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 899,932 shares of the company's stock after purchasing an additional 205,000 shares during the quarter. Fisher Funds Management LTD's holdings in Warner Bros. Discovery were worth $23,992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WBD. Brighton Jones LLC boosted its stake in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after buying an additional 51,920 shares during the period. NewEdge Advisors LLC grew its position in Warner Bros. Discovery by 50.5% during the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company's stock worth $679,000 after buying an additional 21,228 shares in the last quarter. Empowered Funds LLC increased its stake in Warner Bros. Discovery by 6.2% in the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company's stock worth $698,000 after acquiring an additional 3,779 shares during the last quarter. Focus Partners Wealth increased its stake in Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company's stock worth $1,254,000 after acquiring an additional 55,837 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of Warner Bros. Discovery by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company's stock valued at $1,277,000 after acquiring an additional 4,062 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Trading Up 2.1%

Shares of WBD opened at $27.65 on Thursday. The firm has a market cap of $69.32 billion, a price-to-earnings ratio of -21.77 and a beta of 1.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. Warner Bros. Discovery, Inc. has a fifty-two week low of $11.25 and a fifty-two week high of $30.00. The firm has a 50 day moving average price of $26.49 and a 200-day moving average price of $27.17.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The company had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $9.25 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm's revenue was down 11.2% on a year-over-year basis. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.13 earnings per share for the current year.

Insider Activity

In other news, Director Kenneth W. Lowe sold 120,000 shares of Warner Bros. Discovery stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $26.97, for a total value of $3,236,400.00. Following the transaction, the director owned 990,108 shares in the company, valued at approximately $26,703,212.76. The trade was a 10.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gerhard Zeiler sold 591,038 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.05, for a total value of $15,987,577.90. Following the sale, the insider owned 537,436 shares of the company's stock, valued at $14,537,643.80. This represents a 52.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.70% of the company's stock.

More Warner Bros. Discovery News

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

• Positive Sentiment: Freedom Capital upgraded WBD from “hold” to “strong buy,” adding to the stock’s bullish sentiment. Zacks.com
• Positive Sentiment: Paramount Skydance reportedly said a sale of CNN could be considered to help resolve California’s antitrust lawsuit challenging its proposed merger with Warner Bros. Discovery. Such a concession could improve the transaction’s chances of closing, although it would also reshape the deal’s strategic benefits. Paramount says CNN sale is on the table
• Neutral Sentiment: Paramount CEO David Ellison reportedly threatened to begin moving the company out of California if the state attorney general does not negotiate a settlement. The escalation increases pressure for a resolution but could prolong uncertainty around the WBD merger. Paramount California exit threat
• Neutral Sentiment: Coverage continues to describe the Paramount–WBD transaction as being in legal limbo, with an antitrust trial reportedly scheduled for March 2027. The prolonged timetable makes the stock particularly sensitive to regulatory and courtroom developments. Paramount Skydance versus WBD deal analysis
• Negative Sentiment: Director Kenneth W. Lowe sold 120,000 shares for approximately $3.24 million, while insider Gerhard Zeiler sold 591,038 shares worth about $15.99 million. The sizable insider selling may weigh on sentiment, though the filings do not establish the sellers’ motivations. WBD insider sale filing
• Negative Sentiment: The merger’s antitrust challenges remain a material downside risk: failure or substantial modification of the deal could remove a major source of potential value for WBD shareholders. Democratic scrutiny of the Paramount-WBD deal

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Warner Bros. Discovery in a research report on Tuesday, August 4th. UBS Group upped their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. KeyCorp reaffirmed an "overweight" rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Guggenheim reiterated a "neutral" rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $27.69.

About Warner Bros. Discovery

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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