Pacer Advisors Inc. Sells 13,400,215 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Pacer Advisors Inc. cut its Warner Bros. Discovery stake by 58.8% in the fourth quarter, selling 13.4 million shares and leaving it with 9.39 million shares worth about $270.6 million.
• Warner Bros. Discovery’s latest quarterly results were weak: it reported EPS of -$1.17, missing expectations, while revenue of $8.89 billion matched forecasts and declined 1% year over year.
• Wall Street sentiment is mixed, with a Hold consensus rating and a $26.36 average target price; meanwhile, several insiders have also sold shares, adding to cautious investor signals.

Pacer Advisors Inc. decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 58.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,388,632 shares of the company's stock after selling 13,400,215 shares during the period. Pacer Advisors Inc. owned about 0.38% of Warner Bros. Discovery worth $270,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WBD. Vanguard Group Inc. grew its position in shares of Warner Bros. Discovery by 7.1% during the 3rd quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company's stock valued at $5,492,112,000 after acquiring an additional 18,736,600 shares during the period. Jericho Capital Asset Management L.P. grew its position in shares of Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company's stock valued at $685,413,000 after acquiring an additional 18,291,865 shares during the period. Duquesne Family Office LLC bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at $74,916,000. Allianz Asset Management GmbH grew its position in shares of Warner Bros. Discovery by 170.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 9,326,978 shares of the company's stock valued at $182,156,000 after acquiring an additional 5,873,183 shares during the period. Finally, Amundi boosted its holdings in Warner Bros. Discovery by 59.6% in the 3rd quarter. Amundi now owns 15,523,538 shares of the company's stock worth $296,189,000 after buying an additional 5,798,592 shares during the period. Institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WBD. Deutsche Bank Aktiengesellschaft downgraded shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating and upped their target price for the stock from $29.50 to $31.00 in a report on Friday, February 27th. Weiss Ratings downgraded shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a report on Thursday, May 7th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a report on Sunday, March 8th. Huber Research downgraded shares of Warner Bros. Discovery from a "strong-buy" rating to a "strong sell" rating in a report on Friday, February 27th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. One 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 stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of "Hold" and a consensus target price of $26.36.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Gerhard Zeiler sold 600,000 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total value of $16,812,000.00. Following the sale, the insider owned 672,649 shares in the company, valued at $18,847,624.98. The trade was a 47.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fazal F. Merchant sold 35,000 shares of the business's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.48, for a total transaction of $961,800.00. Following the completion of the sale, the director owned 95,539 shares in the company, valued at approximately $2,625,411.72. The trade was a 26.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 8,206,827 shares of company stock worth $230,674,025. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Trading Up 0.2%

Shares of Warner Bros. Discovery stock opened at $27.25 on Thursday. The company has a market capitalization of $68.31 billion, a P/E ratio of -38.93 and a beta of 1.57. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $30.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The company has a fifty day moving average of $27.37 and a 200 day moving average of $26.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to analysts' expectations of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.18) EPS. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

Warner Bros. Discovery News Roundup

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

• Positive Sentiment: Warner Bros. Discovery used its upfront presentation to highlight new ad tools, including a real-time dashboard and performance-focused selling features, which could support stronger ad monetization. WBD Upfront: New Ad Solutions, Real-Time Dashboard
• Positive Sentiment: The company also announced new programming across cable and kids networks, signaling continued investment in content and fresh audience-driving shows. Warner Bros. Discovery Cable Nets Line Up New Shows From Terry Crews, Ken Jeong, Leslie Jones, Shaquille O’Neal & Ben Affleck
• Neutral Sentiment: Analyst and investor interest remains elevated after WBD’s recent earnings call, keeping the stock in focus even as the company continues to face mixed fundamentals. Warner Bros. Discovery, Inc. (WBD) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Coverage around the upfront emphasized the “Ellison in the room” and speculation tied to Paramount’s interest in Warner Bros. Discovery, but the deal talk remains uncertain and policy scrutiny is still developing. WBD Sales Chiefs Acknowledge The “Ellison In The Room”, Nodding To Paramount Deal At Upfront Amid Talk Of Ad Tools
• Negative Sentiment: Reuters reported that House Democrats are pressing Paramount’s CEO on whether changes to CNN coverage were discussed as part of the acquisition process, adding regulatory and political risk around any WBD transaction. House lawmakers press Paramount CEO on Warner Brothers acquisition
• Negative Sentiment: Several reports suggest the upfront event and broader narrative around WBD’s media business were overshadowed by concerns about legacy cable weakness and uncertainty in its gaming segment, tempering enthusiasm. Warner Bros. Discovery once again glosses over gaming business in Q1 2026 financials

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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