Warner Bros. Discovery (NASDAQ:WBD) CEO Sells $21,656,575.73 in Stock

Key Points

• CEO David Zaslav sold 773,173 WBD shares for approximately $21.7 million under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 10.2%; he also sold an additional 194,999 shares the following day.
• Warner Bros. Discovery shares rose 0.9% to $27.99, near the company’s 52-week high, while the latest quarterly results beat earnings expectations but missed revenue forecasts and showed an 11.2% year-over-year revenue decline.
• Merger speculation is supporting the stock, but antitrust litigation remains a major risk. Analysts’ consensus rating is “Hold,” with an average price target of $27.69, while additional large insider sales could weigh on investor confidence.

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) CEO David Zaslav sold 773,173 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $28.01, for a total value of $21,656,575.73. Following the transaction, the chief executive officer directly owned 6,807,934 shares of the company's stock, valued at $190,690,231.34. This represents a 10.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Zaslav also recently made the following trade(s):

• On Friday, August 14th, David Zaslav sold 194,999 shares of Warner Bros. Discovery stock. The stock was sold at an average price of $28.02, for a total transaction of $5,463,871.98.

Warner Bros. Discovery Stock Up 0.9%

Shares of Warner Bros. Discovery stock traded up $0.24 during trading on Friday, hitting $27.99. The company's stock had a trading volume of 12,494,071 shares, compared to its average volume of 24,710,194. Warner Bros. Discovery, Inc. has a 52 week low of $11.25 and a 52 week high of $30.00. The company has a market capitalization of $70.17 billion, a PE ratio of -22.04 and a beta of 1.55. The company has a fifty day simple moving average of $26.54 and a two-hundred day simple moving average of $27.17. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The business had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $9.25 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The business's revenue was down 11.2% compared to the same quarter last year. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -1.04 earnings per share for the current year.

Warner Bros. Discovery News Summary

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

• Positive Sentiment: Merger expectations are supporting WBD. Warner Bros. Discovery and Paramount Skydance shares are rallying as recent market activity suggests the Hollywood megamerger’s closing odds may be improving. Paramount’s reported willingness to consider selling CNN to address antitrust concerns could help resolve a key obstacle. Paramount and Warner Bros. Stocks Are Rallying
• Positive Sentiment: Warner Bros.’ “The End of Oak Street” is targeting as much as $48 million globally in its debut. A strong theatrical opening could provide a modest near-term boost to studio and film-distribution sentiment, although the impact on WBD’s overall financial results is likely limited. The End of Oak Street targets global debut
• Neutral Sentiment: The merger remains tied up in antitrust litigation. The parties have outlined discovery and other pretrial deadlines, with the legal process potentially extending toward a March 2027 trial. The long timeline keeps merger-related volatility elevated and delays certainty for WBD shareholders. Paramount-WBD antitrust trial schedule
• Neutral Sentiment: Industry groups including the DGA and IATSE are urging a faster resolution to the Paramount-WBD legal standoff, while Teamsters members are protesting Paramount over merger-related commitments. The developments increase political and labor pressure but do not yet establish the transaction’s outcome. Teamsters protest Paramount over merger
• Neutral Sentiment: WBD announced incubator productions for Food Network and discovery+, supporting its content pipeline but offering limited immediate financial impact. WBD Food Network and discovery+ productions
• Negative Sentiment: Large insider sales may weigh on investor confidence. Director Kenneth Lowe sold 120,000 shares for approximately $3.24 million, and Gerhard Zeiler sold 591,038 shares worth about $15.99 million. The filings do not explain the motivations, but the sizable reductions can be viewed as a negative sentiment signal. Gerhard Zeiler WBD share sale

Analyst Ratings Changes

Several analysts recently commented on the stock. KeyCorp reissued an "overweight" rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. UBS Group upped their target price on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Huber Research raised shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research report on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Warner Bros. Discovery in a report on Tuesday, August 4th. Finally, Freedom Capital raised Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $27.69.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC increased its position in Warner Bros. Discovery by 111.2% during the second quarter. Harbor Investment Advisory LLC now owns 942 shares of the company's stock valued at $25,000 after acquiring an additional 496 shares during the last quarter. Swiss RE Ltd. bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $26,000. Elevation Wealth Partners LLC grew its stake in shares of Warner Bros. Discovery by 64.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company's stock valued at $27,000 after purchasing an additional 395 shares during the period. Fideuram Asset Management Ireland dac purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $29,000. Finally, MV Capital Management Inc. bought a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $30,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

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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