Pacer Advisors Inc. Sells 9,180,798 Shares of Warner Bros. Discovery, Inc. $WBD

Posted by Stanley Muller on Aug 6th, 2026

Pacer Advisors Inc. trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 97.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,834 shares of the company’s stock after selling 9,180,798 shares during the period. Pacer Advisors Inc.’s holdings in Warner Bros. Discovery were worth $5,707,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock worth $8,161,260,000 after purchasing an additional 1,966,278 shares during the last quarter. Geode Capital Management LLC boosted its position in Warner Bros. Discovery by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after buying an additional 1,028,346 shares during the last quarter. Norges Bank bought a new position in Warner Bros. Discovery in the 4th quarter valued at $1,123,807,000. Morgan Stanley increased its stake in shares of Warner Bros. Discovery by 4.8% in the 4th quarter. Morgan Stanley now owns 27,462,742 shares of the company’s stock valued at $791,476,000 after buying an additional 1,254,813 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Warner Bros. Discovery by 3.9% in the 3rd quarter. Northern Trust Corp now owns 23,496,725 shares of the company’s stock valued at $458,891,000 after buying an additional 876,869 shares during the period. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

WBD has been the topic of several research reports. Weiss Ratings lowered Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Seaport Research Partners cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a report on Monday, July 27th. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Finally, Zacks Research lowered shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.04.

Get Our Latest Analysis on WBD

Warner Bros. Discovery News Roundup

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

Positive Sentiment: A federal judge scheduled the antitrust trial over Paramount’s proposed acquisition of WBD to begin March 2, 2027, with the case expected to last 12 court days. The timetable keeps the $81 billion transaction in play and gives shareholders greater visibility into the path toward closing. Antitrust Trial Over Paramount-Warner Merger Set for March
Positive Sentiment: The delayed trial could increase the amount Paramount owes WBD shareholders through the transaction’s ticking-fee provisions. One estimate puts the potential payment above $1 billion based on the March trial date, improving the deal’s value if it ultimately closes. David Ellison’s Paramount would owe more than $1 billion to WBD shareholders
Positive Sentiment: Paramount CEO David Ellison said the company is “absolutely open” to settling the antitrust lawsuit while expressing confidence Paramount would win at trial. His comments reduce the risk that the deal is abandoned immediately and preserve the possibility of a negotiated resolution. David Ellison Says Paramount Is Absolutely Open To Settling WBD Antitrust Suit
Neutral Sentiment: Paramount reported strong streaming results but continued declines in linear television, highlighting the strategic rationale for combining with WBD while also underscoring the challenges facing the combined company. Paramount Fully Expects WBD Merger To Close
Negative Sentiment: The merger remains paused while a dozen states pursue an antitrust challenge. Opposition also centers on concerns about David Ellison’s control of CNN and editorial independence, adding political and regulatory risk to the transaction. David Ellison Says Opposition to Paramount-Warner Bros. Is Over His Control of CNN

Warner Bros. Discovery Stock Performance

WBD stock opened at $25.97 on Thursday. Warner Bros. Discovery, Inc. has a twelve month low of $10.76 and a twelve month 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 company has a market cap of $65.11 billion, a P/E ratio of -37.10 and a beta of 1.55. The business’s fifty day moving average is $26.50 and its 200-day moving average is $27.22.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm earned ($0.18) earnings per share. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current year.

Warner Bros. Discovery Company 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.