STF Management LP Cuts Stock Position in Warner Bros. Discovery, Inc. $WBD

Posted by Francis Steltz on May 17th, 2026

STF Management LP cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 61.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,826 shares of the company’s stock after selling 21,961 shares during the quarter. STF Management LP’s holdings in Warner Bros. Discovery were worth $398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WBD. Rakuten Securities Inc. increased its stake in shares of Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares in the last quarter. TOWER TRUST & INVESTMENT Co increased its stake in shares of Warner Bros. Discovery by 4,730.8% during the fourth 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 in the last quarter. Concord Wealth Partners increased its stake in shares of Warner Bros. Discovery by 49.9% during the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of Warner Bros. Discovery by 152.1% during the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its stake in shares of Warner Bros. Discovery by 226.1% during the fourth quarter. Richardson Financial Services Inc. now owns 1,647 shares of the company’s stock worth $47,000 after purchasing an additional 1,142 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 0.5%

Shares of NASDAQ WBD opened at $26.98 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $8.82 and a 12-month high of $30.00. The stock has a market cap of $67.64 billion, a PE ratio of -38.54 and a beta of 1.57. 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 company has a 50-day moving average of $27.33 and a 200 day moving average of $26.90.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced 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). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. 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 prior year, the company posted ($0.18) EPS. The firm’s revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research reports. Wells Fargo & Company initiated 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 target price for the company. Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. Sanford C. Bernstein boosted their target price 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. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Finally, UBS Group boosted 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus price target of $26.36.

Read Our Latest Analysis on Warner Bros. Discovery

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Bruce Campbell sold 1,580,331 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.00, for a total value of $44,249,268.00. Following the transaction, the insider directly owned 690,028 shares in the company, valued at $19,320,784. The trade was a 69.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $16,410,000.00. Following the completion of the transaction, the director owned 244,357 shares in the company, valued at $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,206,827 shares of company stock worth $230,674,025 over the last ninety days. 1.90% of the stock is currently owned by insiders.

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.