Thrivent Financial for Lutherans Sells 2,328,762 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Thrivent Financial for Lutherans cut its Warner Bros. Discovery stake by 39.7% in the fourth quarter, selling 2,328,762 shares and ending with 3,535,391 shares valued at about $101.9 million.
• Several other large institutional investors also adjusted positions, with Vanguard, Jericho Capital, Northern Trust, Dimensional, and Amundi all reported as holding significant WBD stakes. Institutional ownership remains high at 59.95%.
• Warner Bros. Discovery’s latest earnings missed analyst EPS estimates, and the stock has a mixed Wall Street outlook with an average Hold rating and consensus price target of $26.36.

Thrivent Financial for Lutherans lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 39.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,535,391 shares of the company's stock after selling 2,328,762 shares during the period. Thrivent Financial for Lutherans owned 0.14% of Warner Bros. Discovery worth $101,891,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company's stock worth $8,161,260,000 after buying an additional 1,966,278 shares during the last quarter. Jericho Capital Asset Management L.P. raised its stake in Warner Bros. Discovery by 108.9% during the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company's stock worth $685,413,000 after buying an additional 18,291,865 shares during the last quarter. Northern Trust Corp raised its stake in Warner Bros. Discovery by 3.9% during the third quarter. Northern Trust Corp now owns 23,496,725 shares of the company's stock worth $458,891,000 after buying an additional 876,869 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Warner Bros. Discovery by 9.7% during the third quarter. Dimensional Fund Advisors LP now owns 18,820,858 shares of the company's stock worth $367,417,000 after buying an additional 1,658,317 shares during the last quarter. Finally, Amundi raised its stake in Warner Bros. Discovery by 59.6% during the third 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 last quarter. Institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WBD shares. Argus lowered 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 research note on Tuesday, March 3rd. Raymond James Financial restated an "underperform" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Benchmark restated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a report on Sunday, March 8th. Finally, Zacks Research cut shares of Warner Bros. Discovery from a "hold" rating to a "strong sell" rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of "Hold" and a consensus price target of $26.36.

Warner Bros. Discovery News Summary

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

• Positive Sentiment: Warner Bros. Discovery used its upfront event to highlight new ad products, real-time measurement tools, and upcoming content, which may help support its ad sales and revenue growth outlook. WBD Upfront: New Ad Solutions, Real-Time Dashboard
• Positive Sentiment: The company also announced new programming across its cable and kids networks, signaling continued investment in content that could help retain audiences and advertisers. Warner Bros. Discovery Announces Premiere Of New Shows Sampat Champat On POGO & Kian & Kiki On Cartoon Network
• Positive Sentiment: Paramount is publicly defending the merger and arguing that the combined company would have incentives to support theatrical releases, which could reassure some investors that the deal has strategic logic. Paramount Defends Warner Bros. Discovery Merger In Letter To California AG, Says Combined Companies Will Have Incentive To Boost Theatrical
• Neutral Sentiment: Warner Bros. Discovery’s upfront presentation emphasized performance marketing and ad tech improvements, but much of the coverage was more industry commentary than a clear financial catalyst. Warner Bros. Discovery’s Upfront Was All About Performance
• Neutral Sentiment: Investor attention has increased around WBD ahead of the merger debate, reflecting heightened speculation rather than a fundamental business update. Warner Bros. Discovery, Inc. (WBD) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: U.S. and EU lawmakers said European regulators will closely examine Paramount’s bid for WBD, raising the risk of a tougher antitrust review and a slower or blocked deal process. U.S., EU lawmakers pledge European scrutiny of Paramount's WBD deal
• Negative Sentiment: Some coverage of the upfront event portrayed it as weak or overly focused on the merger, suggesting uncertainty around the company’s standalone narrative and strategic direction. The Warner Bros. Discovery upfront felt more like a funeral

Insider Activity

In other news, insider Gerhard Zeiler sold 600,000 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the completion of the transaction, the insider directly owned 672,649 shares in the company, valued at $18,847,624.98. This trade represents a 47.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 617,580 shares of Warner Bros. Discovery stock in a transaction dated 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 transaction, the chief financial officer owned 691,570 shares of the company's stock, valued at $19,536,852.50. This represents a 47.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 8,206,827 shares of company stock valued at $230,674,025. 1.90% of the stock is currently owned by insiders.

Warner Bros. Discovery Trading Down 0.5%

NASDAQ:WBD opened at $27.12 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $67.99 billion, a price-to-earnings ratio of -38.74 and a beta of 1.57. The firm has a fifty day simple moving average of $27.35 and a two-hundred day simple moving average of $26.90. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $30.00.

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). The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) earnings per share. Analysts expect that Warner Bros. Discovery, Inc. will post -0.71 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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