Warner Bros. Discovery, Inc. $WBD Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group cut its stake in Warner Bros. Discovery by 9.2% in the first quarter, selling 56,041 shares and leaving it with 552,808 shares worth about $15.18 million.
• Warner Bros. Discovery is set to report second-quarter 2026 earnings on August 6, which could provide a near-term catalyst for investors.
• The proposed Paramount-Warner Bros. Discovery merger remains uncertain: while it has received EU approval, a federal judge extended the pause on the deal through at least August 17 amid ongoing legal challenges.

PNC Financial Services Group Inc. reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 9.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,808 shares of the company's stock after selling 56,041 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Warner Bros. Discovery were worth $15,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WBD. Swiss RE Ltd. bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at $26,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $29,000. MV Capital Management Inc. bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $30,000. Rakuten Securities Inc. grew its holdings in shares of Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock worth $33,000 after acquiring an additional 521 shares during the last quarter. Finally, TOWER TRUST & INVESTMENT Co grew its holdings in shares of Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock worth $36,000 after acquiring an additional 1,230 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Key Warner Bros. Discovery News

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

• Positive Sentiment: Warner Bros. Discovery is expected to report second-quarter 2026 results on August 6, giving investors a new near-term catalyst to assess business performance. Warner Bros. Discovery to Report Second Quarter 2026 Results on Thursday, August 6
• Neutral Sentiment: Paramount has reportedly secured EU approval for the merger, reducing one hurdle even as U.S. regulators and courts continue to review the deal. Paramount’s Takeover Of Warner Bros. Discovery Gets EU Greenlight
• Negative Sentiment: A federal judge has extended the pause on the Paramount-Warner Bros. Discovery deal through at least August 17, increasing uncertainty around the transaction. Paramount-Warner-Bros deal paused through August 17, judge rules
• Negative Sentiment: Reports say Paramount may push the closing date out to as late as June 2027 while it fights state lawsuits, and could face large daily fees if the merger does not close on time. Paramount agrees to pause $110B Warner Bros. deal while states' lawsuit plays out

Warner Bros. Discovery Trading Down 0.7%

NASDAQ:WBD opened at $25.77 on Friday. The stock has a market cap of $64.61 billion, a PE ratio of -36.81 and a beta of 1.54. Warner Bros. Discovery, Inc. has a fifty-two week low of $10.76 and a fifty-two week high of $30.00. 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 stock's 50-day moving average is $26.72 and its two-hundred day moving average is $27.39.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results 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 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 analysts' expectations of $8.89 billion. During the same period last year, the company earned ($0.18) earnings per share. Warner Bros. Discovery's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WBD shares. KeyCorp reaffirmed an "overweight" rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Huber Research raised Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research note on Monday, June 1st. UBS Group upped their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Guggenheim reiterated a "neutral" rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.04.

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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