Warner Bros. Discovery (NASDAQ:WBD) CEO David Zaslav Sells 773,173 Shares of Stock

Posted by Geri Gentry on Aug 15th, 2026

Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Free Report) CEO David Zaslav sold 773,173 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $28.01, for a total value of $21,656,575.73. Following the completion of the transaction, the chief executive officer owned 6,807,934 shares of the company’s stock, valued at $190,690,231.34. The trade was a 10.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Zaslav also recently made the following trade(s):

On Friday, August 14th, David Zaslav sold 194,999 shares of Warner Bros. Discovery stock. The stock was sold at an average price of $28.02, for a total value of $5,463,871.98.

Warner Bros. Discovery Stock Up 0.9%

WBD opened at $27.99 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $11.25 and a fifty-two week high of $30.00. 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 firm’s fifty day moving average price is $26.54 and its two-hundred day moving average price is $27.17. The company has a market capitalization of $70.17 billion, a P/E ratio of -22.04 and a beta of 1.55.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently made changes to their positions in the company. Harbor Investment Advisory LLC lifted its holdings in Warner Bros. Discovery by 111.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after purchasing an additional 496 shares during the last quarter. Swiss RE Ltd. bought a new stake in Warner Bros. Discovery during the fourth quarter worth about $26,000. Elevation Wealth Partners LLC grew its stake in Warner Bros. Discovery by 64.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock worth $27,000 after buying an additional 395 shares during the last quarter. Fideuram Asset Management Ireland dac acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $29,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

More Warner Bros. Discovery News

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

Positive Sentiment: Merger expectations are supporting WBD. Warner Bros. Discovery and Paramount Skydance shares are rallying as recent market activity suggests the Hollywood megamerger’s closing odds may be improving. Paramount’s reported willingness to consider selling CNN to address antitrust concerns could help resolve a key obstacle. Paramount and Warner Bros. Stocks Are Rallying
Positive Sentiment: Warner Bros.’ “The End of Oak Street” is targeting as much as $48 million globally in its debut. A strong theatrical opening could provide a modest near-term boost to studio and film-distribution sentiment, although the impact on WBD’s overall financial results is likely limited. The End of Oak Street targets global debut
Neutral Sentiment: The merger remains tied up in antitrust litigation. The parties have outlined discovery and other pretrial deadlines, with the legal process potentially extending toward a March 2027 trial. The long timeline keeps merger-related volatility elevated and delays certainty for WBD shareholders. Paramount-WBD antitrust trial schedule
Neutral Sentiment: Industry groups including the DGA and IATSE are urging a faster resolution to the Paramount-WBD legal standoff, while Teamsters members are protesting Paramount over merger-related commitments. The developments increase political and labor pressure but do not yet establish the transaction’s outcome. Teamsters protest Paramount over merger
Neutral Sentiment: WBD announced incubator productions for Food Network and discovery+, supporting its content pipeline but offering limited immediate financial impact. WBD Food Network and discovery+ productions
Negative Sentiment: Large insider sales may weigh on investor confidence. Director Kenneth Lowe sold 120,000 shares for approximately $3.24 million, and Gerhard Zeiler sold 591,038 shares worth about $15.99 million. The filings do not explain the motivations, but the sizable reductions can be viewed as a negative sentiment signal. Gerhard Zeiler WBD share sale

Analyst Ratings Changes

Several research firms recently issued reports on WBD. Seaport Research Partners lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Freedom Capital upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Zacks Research cut Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Finally, KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.69.

View Our Latest Analysis on WBD

About Warner Bros. Discovery

(Get 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.