Warner Bros. Discovery, Inc. $WBD Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,253,529 shares of the company’s stock after selling 685,266 shares during the period. Victory Capital Management Inc. owned 0.09% of Warner Bros. Discovery worth $44,011,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in WBD. CI Investments Inc. increased its stake in Warner Bros. Discovery by 13.8% during the third quarter. CI Investments Inc. now owns 15,060 shares of the company’s stock worth $294,000 after acquiring an additional 1,825 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $917,000. 111 Capital purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter worth $480,000. Elo Mutual Pension Insurance Co acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth about $752,000. Finally, APG Asset Management N.V. increased its position in shares of Warner Bros. Discovery by 0.7% during the 3rd quarter. APG Asset Management N.V. now owns 1,486,169 shares of the company’s stock worth $29,025,000 after purchasing an additional 11,060 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 55,118 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.00, for a total transaction of $1,543,304.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Zaslav sold 4,004,149 shares of Warner Bros. Discovery stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.26, for a total value of $113,157,250.74. Following the completion of the transaction, the chief executive officer owned 7,200,627 shares of the company’s stock, valued at approximately $203,489,719.02. This trade represents a 35.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 7,782,159 shares of company stock worth $219,565,426 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WBD has been the topic of a number of recent analyst reports. Sanford C. Bernstein upped their target price on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research report on Tuesday, February 24th. TD Cowen lifted their price target on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Huber Research downgraded shares of Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and upped their price objective for the stock from $29.50 to $31.00 in a report on Friday, February 27th. Finally, Barrington Research downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a report on Friday, December 5th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $25.99.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.93 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.07. The company has a market cap of $69.21 billion, a P/E ratio of 96.31 and a beta of 1.60. The stock has a 50-day moving average of $28.27 and a two-hundred day moving average of $23.31. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.19). Warner Bros. Discovery had a return on equity of 1.98% and a net margin of 1.95%.The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.33 billion. During the same period in the prior year, the company posted ($0.20) EPS. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery News Roundup

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

• Positive Sentiment: Paramount/Skydance agreed to buy WBD assets in a deal that could deliver a takeover premium and simplify WBD’s portfolio — this is the primary bullish catalyst for shareholders. Read More.
• Positive Sentiment: Buyer leadership (David Ellison/Paramount/Skydance) publicly pledges to keep CNN independent, reducing regulatory and integration risk that might otherwise erode deal value. Read More.
• Positive Sentiment: Analysts and M&A presentations are framing the transaction as a strategic reset that could unlock value for WBD shareholders (materials outline bidder dynamics and potential synergies). Read More.
• Neutral Sentiment: Netflix has stepped back from the WBD bidding war and is refocusing on core streaming strategy — removes one potential suitor but also leaves bidders like Paramount to set the deal terms. Read More.
• Neutral Sentiment: Coverage notes Netflix received cash from its failed WBD bid and may redeploy capital elsewhere; this is relevant to the competitive landscape but not directly to WBD’s valuation. Read More.
• Neutral Sentiment: Third-party market activity (reports of investors buying Netflix bonds and other opportunistic moves) reflects investor jockeying around the media deal but is peripheral to WBD’s fundamentals. Read More.
• Negative Sentiment: Large, coordinated insider selling reported this week (CEO David Zaslav sold ~4.0M shares; CFO and other senior execs also sold large blocks) — big disposals can pressure sentiment and suggest insiders are taking liquidity or reducing exposure ahead of/after deal activity. Read More.
• Negative Sentiment: Additional insider sales (e.g., Amy Girdwood) and multiple large Form 4s amplify the selling signal and may trigger short-term profit-taking. Read More.
• Negative Sentiment: Analyst pressure: Moffett Nathanson downgraded WBD to neutral (maintains $31 target) and Argus published a pessimistic forecast — bearish notes can cap the stock’s near-term upside and encourage selling. Read More. • Read More.

Warner Bros. Discovery Profile

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.