ProShare Advisors LLC Raises Stock Position in Warner Bros. Discovery, Inc. $WBD

Posted by Brian Himes on May 20th, 2026

ProShare Advisors LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 39.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,353,089 shares of the company’s stock after buying an additional 1,221,131 shares during the period. ProShare Advisors LLC’s holdings in Warner Bros. Discovery were worth $125,456,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Concord Wealth Partners boosted its holdings in shares of Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares during the period. Physician Wealth Advisors Inc. boosted its holdings in shares of Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares during the period. Rakuten Securities Inc. boosted 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 purchasing an additional 521 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $33,000. Finally, TOWER TRUST & INVESTMENT Co boosted 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 purchasing an additional 1,230 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares of the company’s stock, valued at $6,683,163.95. The trade was a 71.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 374,323 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.05, for a total transaction of $10,499,760.15. Following the completion of the sale, the chief financial officer directly owned 663,380 shares of the company’s stock, valued at approximately $18,607,809. This trade represents a 36.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,206,827 shares of company stock worth $230,674,025 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WBD shares. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Sanford C. Bernstein lifted their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research note on Tuesday, February 24th. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Wells Fargo & Company began coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 price target for the company. Finally, Argus dropped their price target on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.36.

Check Out Our Latest Analysis on Warner Bros. Discovery

Warner Bros. Discovery Price Performance

WBD opened at $27.09 on Wednesday. The business has a fifty day moving average of $27.30 and a 200 day moving average of $27.02. Warner Bros. Discovery, Inc. has a 52-week low of $8.83 and a 52-week high of $30.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The stock has a market cap of $67.92 billion, a P/E ratio of -38.70 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. Warner Bros. Discovery’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned ($0.18) earnings per share. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

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.