Pinnacle Associates Ltd. Sells 137,740 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Pinnacle Associates Ltd. cut its Warner Bros. Discovery stake by 14.5% in the fourth quarter, selling 137,740 shares and leaving it with 810,646 shares worth about $23.4 million.
• Institutional ownership remains high, with several other funds also adjusting positions and institutions collectively holding 59.95% of the company’s stock.
• WBD is drawing mixed attention on Wall Street and in the news: analysts mostly rate it a Hold, while recent headlines highlight new ad tools and programming initiatives alongside regulatory and political scrutiny tied to possible Paramount deal speculation.

Pinnacle Associates Ltd. decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 14.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 810,646 shares of the company's stock after selling 137,740 shares during the period. Pinnacle Associates Ltd.'s holdings in Warner Bros. Discovery were worth $23,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Concord Wealth Partners boosted its holdings in Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock valued at $26,000 after acquiring an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock valued at $27,000 after acquiring an additional 847 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock valued at $33,000 after acquiring an additional 521 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Warner Bros. Discovery in the third quarter valued at $33,000. Finally, TOWER TRUST & INVESTMENT Co boosted its holdings in Warner Bros. Discovery by 4,730.8% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock valued at $36,000 after acquiring an additional 1,230 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Key Headlines Impacting Warner Bros. Discovery

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WBD. UBS Group lifted their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Rothschild & Co Redburn set a $31.00 price target on shares of Warner Bros. Discovery and gave the stock a "neutral" rating in a research note on Tuesday, February 17th. Zacks Research downgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong sell" rating in a research note on Friday, May 1st. Wells Fargo & Company initiated coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They issued an "equal weight" rating and a $31.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating and increased their price target for the stock from $29.50 to $31.00 in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Hold" and an average target price of $26.36.

Insider Transactions at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 41,784 shares of the firm's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the completion of the transaction, the insider directly owned 604,666 shares in the company, valued at $16,821,808.12. This trade represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul A. Gould sold 600,000 shares of the firm's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,206,827 shares of company stock worth $230,674,025. Company insiders own 1.90% of the company's stock.

Warner Bros. Discovery Stock Up 0.2%

Shares of Warner Bros. Discovery stock opened at $27.25 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The company has a 50-day moving average of $27.37 and a 200 day moving average of $26.86. The firm has a market cap of $68.31 billion, a price-to-earnings ratio of -38.93 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 1 year low of $8.82 and a 1 year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results 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 return on equity of 4.77% and a negative net margin of 4.67%.The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the firm earned ($0.18) earnings per share. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

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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