California Public Employees Retirement System Has $77.37 Million Position in Warner Bros. Discovery, Inc. $WBD

California Public Employees Retirement System boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,961,385 shares of the company’s stock after buying an additional 267,057 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Warner Bros. Discovery worth $77,366,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WBD. Concord Wealth Partners grew its holdings in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 440 shares during the last quarter. Howard Capital Management Inc. raised its stake in shares of Warner Bros. Discovery by 3.1% during the third quarter. Howard Capital Management Inc. now owns 15,559 shares of the company’s stock valued at $304,000 after acquiring an additional 474 shares during the last quarter. Claro Advisors LLC raised its stake in shares of Warner Bros. Discovery by 4.4% during the third quarter. Claro Advisors LLC now owns 11,591 shares of the company’s stock valued at $226,000 after acquiring an additional 484 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 0.6% during the third quarter. Clearstead Advisors LLC now owns 91,414 shares of the company’s stock worth $1,785,000 after purchasing an additional 506 shares during the period. Finally, Prime Capital Investment Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 3.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 16,860 shares of the company’s stock worth $329,000 after purchasing an additional 512 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction on 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Campbell sold 1,580,331 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.00, for a total transaction of $44,249,268.00. Following the completion of the sale, the insider owned 690,028 shares of the company’s stock, valued at approximately $19,320,784. The trade was a 69.61% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 8,206,827 shares of company stock worth $230,674,025. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $27.51 on Tuesday. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $30.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average price of $28.13 and a 200-day moving average price of $24.05. The company has a market cap of $68.17 billion, a PE ratio of 94.87 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.19). Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. During the same period in the previous year, the firm earned ($0.20) EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery News Roundup

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

• Positive Sentiment: WBD-dominated Oscars night — Warner Bros. films “One Battle After Another” and “Sinners” won multiple Academy Awards (reporting up to 10–11 trophies), driving a PR boost for the studio’s premium content slate and signaling franchise/rights value ahead of strategic talks. Warner Bros. Cleans Up at the Oscars
• Positive Sentiment: CEO David Zaslav sent a celebratory company-wide email highlighting the “historic” night and original storytelling wins — a morale/PR lift that can support investor expectations for content monetization and negotiating leverage in M&A discussions. Zaslav Celebrates Oscars
• Neutral Sentiment: Pending Paramount Skydance takeover remains front-and-center — coverage frames the Oscars success as timely but the $110B deal (and related bidding dynamics) is the primary structural story that will ultimately determine valuation. Investors should watch M&A updates more closely than awards alone. Reuters: Oscar triumph bittersweet as Paramount deal looms
• Neutral Sentiment: Some commentary downplays the long-term market impact of awards (Oscars aren’t guaranteed to move box office/streaming revenue materially); treat the PR bump as potentially short-lived unless tied to monetization plans. Fool: Oscars not a big deal
• Negative Sentiment: Large insider sale — Director Paul A. Gould sold 600,000 shares at ~$27.35 (≈$16.41M) and trimmed his stake by ~71%, disclosed in an SEC Form 4 filing. Big director sells can create near-term selling pressure or signal personal liquidity needs rather than confidence. Paul Gould SEC filing
• Negative Sentiment: Another insider sale — Director Fazal F. Merchant sold 35,000 shares at ~$27.48 (~$962k), reducing his holding by ~27%; adds to the raw selling flow that may offset some positive sentiment. Fazal Merchant SEC filing

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barrington Research downgraded Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a report on Friday, December 5th. Benchmark reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Argus decreased their price target on 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. Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a research note on Monday, March 9th. They issued an “equal weight” rating and a $31.00 price target for the company. Finally, Arete Research restated a “neutral” rating and set a $31.25 price objective on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $26.30.

Warner Bros. Discovery Profile

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.