Thompson Investment Management Inc. Lowers Stake in Warner Bros. Discovery, Inc. $WBD

Thompson Investment Management Inc. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 85.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,887 shares of the company’s stock after selling 497,033 shares during the quarter. Thompson Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $2,290,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WBD. Bank of America Corp DE boosted its holdings in shares of Warner Bros. Discovery by 21.9% during the 1st quarter. Bank of America Corp DE now owns 16,616,949 shares of the company’s stock worth $456,301,000 after purchasing an additional 2,980,900 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Warner Bros. Discovery by 130.8% during the fourth quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock worth $29,069,000 after purchasing an additional 571,612 shares during the period. Brighton Jones LLC lifted its holdings in Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after acquiring an additional 51,920 shares during the last quarter. Varma Mutual Pension Insurance Co acquired a new stake in Warner Bros. Discovery during the fourth quarter worth $12,372,000. Finally, Geode Capital Management LLC boosted its stake in Warner Bros. Discovery by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock worth $1,912,634,000 after buying an additional 1,028,346 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Up 2.1%

Shares of Warner Bros. Discovery stock opened at $27.65 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day moving average price of $26.49 and a 200 day moving average price of $27.17. The company has a market capitalization of $69.32 billion, a P/E ratio of -21.77 and a beta of 1.55. Warner Bros. Discovery, Inc. has a 1 year low of $11.25 and a 1 year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.20. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $9.25 billion. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. Warner Bros. Discovery’s revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -1.13 EPS for the current fiscal year.

Warner Bros. Discovery News Roundup

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

• Positive Sentiment: Freedom Capital upgraded WBD from “hold” to “strong buy,” adding to the stock’s bullish sentiment. Zacks.com
• Positive Sentiment: Paramount Skydance reportedly said a sale of CNN could be considered to help resolve California’s antitrust lawsuit challenging its proposed merger with Warner Bros. Discovery. Such a concession could improve the transaction’s chances of closing, although it would also reshape the deal’s strategic benefits. Paramount says CNN sale is on the table
• Neutral Sentiment: Paramount CEO David Ellison reportedly threatened to begin moving the company out of California if the state attorney general does not negotiate a settlement. The escalation increases pressure for a resolution but could prolong uncertainty around the WBD merger. Paramount California exit threat
• Neutral Sentiment: Coverage continues to describe the Paramount–WBD transaction as being in legal limbo, with an antitrust trial reportedly scheduled for March 2027. The prolonged timetable makes the stock particularly sensitive to regulatory and courtroom developments. Paramount Skydance versus WBD deal analysis
• Negative Sentiment: Director Kenneth W. Lowe sold 120,000 shares for approximately $3.24 million, while insider Gerhard Zeiler sold 591,038 shares worth about $15.99 million. The sizable insider selling may weigh on sentiment, though the filings do not establish the sellers’ motivations. WBD insider sale filing
• Negative Sentiment: The merger’s antitrust challenges remain a material downside risk: failure or substantial modification of the deal could remove a major source of potential value for WBD shareholders. Democratic scrutiny of the Paramount-WBD deal

Insider Buying and Selling

In other news, insider Gerhard Zeiler sold 591,038 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.05, for a total value of $15,987,577.90. Following the completion of the transaction, the insider directly owned 537,436 shares in the company, valued at approximately $14,537,643.80. This represents a 52.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth W. Lowe sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the completion of the transaction, the director owned 990,108 shares in the company, valued at $26,703,212.76. This represents a 10.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on WBD shares. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Zacks Research cut Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Finally, Seaport Research Partners downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have given 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 $27.69.

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.