Patton Fund Management Inc. Has $9.97 Million Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Patton Fund Management boosted its stake in Warner Bros. Discovery by 40.9% to 346,057 shares valued at about $9.97 million, making WBD its 10th-largest holding (~1.3% of the fund).
• Company insiders have been net sellers: Gerhard Zeiler sold 600,000 shares (~$16.8M) and CFO Gunnar Wiedenfels sold 617,580 shares (~$17.4M), with insiders offloading 8,206,827 shares (~$230.7M) in the past 90 days.
• The proposed Paramount‑WBD merger faces growing headwinds—over 1,000 industry figures have publicly opposed it and the UK regulator has signaled a likely probe—raising material regulatory and execution risk for WBD.

Patton Fund Management Inc. increased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 40.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 346,057 shares of the company's stock after buying an additional 100,535 shares during the period. Warner Bros. Discovery accounts for about 1.3% of Patton Fund Management Inc.'s portfolio, making the stock its 10th largest holding. Patton Fund Management Inc.'s holdings in Warner Bros. Discovery were worth $9,973,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WBD. Concord Wealth Partners boosted its holdings in shares of 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 buying an additional 440 shares during the period. Physician Wealth Advisors Inc. boosted its holdings in shares of 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 buying an additional 847 shares during the period. Grove Bank & Trust boosted its holdings in shares of Warner Bros. Discovery by 66.5% during the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company's stock worth $33,000 after buying an additional 675 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth about $33,000. Finally, Crews Bank & Trust boosted its holdings 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 period. Institutional investors own 59.95% of the company's stock.

More Warner Bros. Discovery News

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

• Positive Sentiment: Paramount issued public assurances intended to calm talent and investors, pledging to preserve creative independence and greenlight a slate of feature films—an attempt to limit a talent exodus that would hurt WBD’s future content output. Paramount Responds To Letter From Hollywood Figures
• Neutral Sentiment: UK competition authorities have begun soliciting views ahead of a possible formal probe — an early procedural step that raises timing and conditionality risk but does not yet equate to a blocking decision. Watch the CMA’s next moves for more definitive impact. Paramount‑Warner: UK Competition Watchdog Seeks Views
• Neutral Sentiment: Broad industry context: Wall Street continues to focus on streaming profitability (price hikes, ads, subscriber monetization). These sector trends could help or hurt WBD depending on execution and the merged company’s ability to cut costs and grow subscriptions. Wall Street still loves streaming, but are its affections well placed?
• Negative Sentiment: Over 1,000 actors, writers and directors signed an open letter opposing the merger, warning consolidation will reduce opportunities and creative diversity—this public revolt raises the risk of strikes, boycotts or talent flight that would damage WBD’s content engine and the merger’s strategic rationale. Top Hollywood stars come out swinging against the Paramount‑WBD deal
• Negative Sentiment: UK regulator signals a formal probe is likely in the coming weeks — a thorough antitrust review could require divestitures, lengthy remedies, or lead to a block in a major market, materially altering the deal’s economics. UK to probe Paramount‑WBD deal
• Negative Sentiment: Rising market skepticism: recent reporting highlights insider selling and increased short interest, signaling that insiders and traders expect volatility or downside if the merger falters; competitor strength (e.g., Netflix’s continued expansion) intensifies execution risk for WBD. 3 Big Reasons Netflix Will Continue to Soar

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Argus reduced their target price on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Sanford C. Bernstein lifted their price objective on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a "market perform" rating in a research note on Tuesday, February 24th. Weiss Ratings upgraded shares of Warner Bros. Discovery from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, February 23rd. TD Cowen lifted their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a "hold" rating in a research note on Friday, February 27th. Finally, Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the stock a "neutral" rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.30.

Insider Buying and Selling

In other news, insider Gerhard Zeiler sold 600,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 672,649 shares in the company, valued at approximately $18,847,624.98. The trade was a 47.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gunnar Wiedenfels sold 617,580 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total transaction of $17,446,635.00. Following the completion of the transaction, the chief financial officer owned 691,570 shares of the company's stock, valued at $19,536,852.50. The trade was a 47.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 8,206,827 shares of company stock worth $230,674,025. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $27.39 on Tuesday. Warner Bros. Discovery, Inc. has a twelve month low of $7.75 and a twelve month high of $30.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The company has a 50-day simple moving average of $27.75 and a two-hundred day simple moving average of $25.68. The stock has a market capitalization of $67.93 billion, a price-to-earnings ratio of 94.45 and a beta of 1.63.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.19). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. Warner Bros. Discovery's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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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