2,000,000 Shares in Warner Bros. Discovery, Inc. $WBD Purchased by Empyrean Capital Partners LP

Posted by Jessica Moore on Jun 18th, 2026

Empyrean Capital Partners LP acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,000,000 shares of the company’s stock, valued at approximately $57,640,000. Warner Bros. Discovery comprises about 2.0% of Empyrean Capital Partners LP’s investment portfolio, making the stock its 17th largest holding.

Several other large investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new stake in Warner Bros. Discovery in the 4th quarter worth about $20,020,000. Capitolis Liquid Global Markets LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth about $6,521,000. Miura Global Management LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth about $1,441,000. AQR Arbitrage LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth about $49,874,000. Finally, DV Equities LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth about $99,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 1.4%

Shares of NASDAQ WBD opened at $26.24 on Thursday. Warner Bros. Discovery, Inc. has a 12 month low of $10.27 and a 12 month high of $30.00. 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 firm has a market capitalization of $65.79 billion, a price-to-earnings ratio of -37.49 and a beta of 1.54. The business has a 50-day moving average of $27.07 and a 200-day moving average of $27.62.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate 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 business had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the previous year, the firm posted ($0.18) EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a report on Monday, March 9th. They set an “equal weight” rating and a $31.00 target price for the company. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. UBS Group lifted their target price on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings lowered Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.04.

Get Our Latest Research Report on WBD

Trending Headlines about Warner Bros. Discovery

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

Positive Sentiment: Chinese regulators reportedly cleared the Paramount Skydance-Warner Bros. Discovery merger, removing another hurdle for the deal and boosting the odds that WBD shareholders receive the agreed cash value. Chinese regulators clear Paramount Skydance-Warner Bros Discovery merger, source says
Positive Sentiment: Multiple reports say the DOJ has already approved the merger, which lowers regulatory risk and strengthens the merger-arbitrage case for WBD. Paramount Skydance wins DOJ approval for Warner Bros. Discovery merger
Positive Sentiment: Market commentary highlights the deal as a major catalyst, noting WBD still trades below the $31 cash buyout price, leaving a potential merger-arbitrage spread for investors. Plot Twist: How the $110B Paramount-Warner Deal Rewrites Media
Neutral Sentiment: Sector articles discussing APAC growth, local content, and broader streaming competition provide background on the media landscape, but do not appear to be a direct stock-moving catalyst for WBD today. Netflix, Prime Video, Disney and WBD on Local Content and APAC Growth
Negative Sentiment: The stock also weakened in the latest session, with coverage pointing to WBD falling more than the broader market, reflecting ongoing investor caution despite the merger news. Here’s Why Warner Bros. Discovery (WBD) Fell More Than Broader Market

Warner Bros. Discovery Profile

(Free Report)

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.