RFG Advisory LLC Has $5.57 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• RFG Advisory LLC trimmed its Warner Bros. Discovery stake by 30.1%, selling 83,347 shares and leaving 193,422 shares valued at about $5.57 million.
• Insider selling was heavy: CEO David Zaslav sold 4,004,149 shares (~$113.16M) and director Paul A. Gould sold 600,000 shares, with insiders offloading 8,206,827 shares (~$230.7M) in the quarter.
• Q1 earnings missed sharply: WBD reported ($1.17) EPS versus a ($0.10) consensus and a roughly $2.9B headline net loss driven by a $2.8B termination fee, while revenue was flat at $8.89B and analysts hold a consensus "Hold" with an average target of $26.30.

RFG Advisory LLC trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 30.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 193,422 shares of the company's stock after selling 83,347 shares during the quarter. RFG Advisory LLC's holdings in Warner Bros. Discovery were worth $5,574,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Swedbank AB grew its holdings in Warner Bros. Discovery by 44.1% in the fourth quarter. Swedbank AB now owns 1,535,742 shares of the company's stock worth $44,260,000 after purchasing an additional 470,297 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Warner Bros. Discovery by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,299,328 shares of the company's stock worth $151,084,000 after purchasing an additional 256,172 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Warner Bros. Discovery by 1.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 299,145 shares of the company's stock worth $8,621,000 after purchasing an additional 3,097 shares during the period. RNC Capital Management LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter worth $264,000. Finally, Principal Financial Group Inc. grew its holdings in Warner Bros. Discovery by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,748,072 shares of the company's stock worth $79,199,000 after purchasing an additional 69,544 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In related news, CEO David Zaslav sold 4,004,149 shares of the business's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the transaction, the chief executive officer directly owned 7,200,627 shares in the company, valued at approximately $203,489,719.02. The trade was a 35.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul A. Gould sold 600,000 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,206,827 shares of company stock valued at $230,674,025 in the last quarter. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

WBD has been the subject of a number of research reports. Huber Research cut shares of Warner Bros. Discovery from a "strong-buy" rating to a "strong sell" rating in a report on Friday, February 27th. KeyCorp reiterated an "overweight" rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. TD Cowen lifted their price objective 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. UBS Group lifted their price objective on shares of Warner Bros. Discovery from $20.00 to $30.00 and gave the company a "neutral" rating in a report on Wednesday, January 28th. Finally, Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the company a "neutral" rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $26.30.

Warner Bros. Discovery News Roundup

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

• Positive Sentiment: Streaming revenue and subscriber engagement accelerated as HBO Max expanded internationally, a near‑term revenue/engagement positive that supports the growth narrative for WBD’s streaming segment. Streaming Growth Article
• Positive Sentiment: Paramount’s comments and continued deal progress — including reaffirmed film-slate plans tied to the transaction — suggest the strategic merger remains on track, which could be a long‑term value catalyst if the deal closes. Paramount Deal Progress
• Neutral Sentiment: WBD posted its formal Q1 press release and held an earnings call; revenue was roughly flat y/y (~$8.89B), indicating top‑line stability even as other line items moved. Press Release
• Negative Sentiment: Reported EPS missed badly: WBD posted a loss of ($1.17) vs. consensus (~($0.10)), driven largely by a $2.8B termination fee tied to the Paramount/Netflix board swap — producing a roughly $2.9B headline net loss that investors view as a large one‑time accounting hit. Earnings Miss Termination Fee Detail
• Negative Sentiment: Management flagged restructuring costs and the large charge as drivers of the loss; combined with heavy leverage metrics noted by analysts, this keeps investor focus on cash flow and deleveraging timelines. Restructuring and Net Loss
• Negative Sentiment: Regulatory risk: an FCC commissioner has called for a rigorous review of foreign investment tied to the proposed merger, adding potential timeline and approval risk for the deal. FCC Review

Warner Bros. Discovery Stock Down 0.1%

Shares of NASDAQ WBD opened at $27.20 on Thursday. The stock has a market capitalization of $68.18 billion, a P/E ratio of 93.80 and a beta of 1.57. The company has a 50-day moving average price of $27.52 and a 200-day moving average price of $26.59. Warner Bros. Discovery, Inc. has a 1 year low of $8.06 and a 1 year high of $30.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the prior year, the business earned ($0.18) earnings per share. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.14 EPS 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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