State of New Jersey Common Pension Fund D Decreases Stock Holdings in Warner Bros. Discovery, Inc. $WBD

State of New Jersey Common Pension Fund D decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 810,518 shares of the company’s stock after selling 31,335 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Warner Bros. Discovery were worth $23,359,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Canandaigua National Trust Co of Florida purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at $325,000. Simplicity Wealth LLC purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at $217,000. Keybank National Association OH raised its stake in Warner Bros. Discovery by 49.1% during the fourth quarter. Keybank National Association OH now owns 176,651 shares of the company’s stock valued at $5,091,000 after purchasing an additional 58,153 shares in the last quarter. Wealthfront Advisers LLC raised its stake in Warner Bros. Discovery by 5.3% during the fourth quarter. Wealthfront Advisers LLC now owns 705,951 shares of the company’s stock valued at $20,346,000 after purchasing an additional 35,438 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at $76,000. Hedge funds and other institutional investors 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: European regulator may clear the Paramount–Skydance deal, which lifted shares on hopes the wider industry consolidation (and WBD’s role in the sector) will proceed with fewer regulatory roadblocks. Article Title
• Positive Sentiment: WBD renewed CFO Gunnar Wiedenfels’s contract through April 2028—a sign of financial leadership continuity that reduces execution risk during strategic moves and integration work. Article Title
• Positive Sentiment: Investor David Einhorn is reportedly bullish on WBD, which can attract attention from other value-oriented funds and support the stock via perceived activist/long-term interest. Article Title
• Neutral Sentiment: Regulatory/ownership filing shows the combined Paramount–WBD entity would be ~38.5% owned by Middle Eastern funds — important for deal financing and governance but may raise scrutiny; impact depends on regulator and investor reactions. Article Title
• Neutral Sentiment: Coverage notes WBD is a trending/widely watched stock (Zacks, other outlets); elevated attention can increase volatility but is ambiguous for direction. Article Title
• Neutral Sentiment: Valuation analysis highlights tension between market multiples and WBD’s cash-flow outlook—this keeps investors debating whether the current price already prices in potential merger/streaming upside. Article Title
• Negative Sentiment: CEO David Zaslav’s 2025 pay reportedly more than tripled to $165M—this raises corporate-governance and shareholder-cost concerns that can weigh on sentiment, especially for ESG- and cost-conscious investors. Article Title
• Negative Sentiment: Analysis pieces highlight significant regulatory and strategic hurdles that could still block or complicate a large-scale Paramount–WBD tie-up; lingering deal uncertainty keeps downside risk alive. Article Title

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.05 on Friday. The company’s 50-day moving average price is $27.59 and its 200-day moving average price is $26.35. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87. The stock has a market cap of $67.08 billion, a PE ratio of 93.28 and a beta of 1.63. Warner Bros. Discovery, Inc. has a 12 month low of $8.06 and a 12 month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.19). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.33 billion. Warner Bros. Discovery had a return on equity of 1.98% and a net margin of 1.95%.The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Warner Bros. Discovery from $20.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and increased their target price for the company from $29.50 to $31.00 in a research note on Friday, February 27th. Benchmark reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Finally, Huber Research downgraded shares of Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.30.

Insider Transactions at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 1,580,331 shares of the company’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 approximately $19,320,784. This represents a 69.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 617,580 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total transaction of $17,446,635.00. Following the completion of the transaction, the chief financial officer owned 691,570 shares in the company, valued at approximately $19,536,852.50. The trade was a 47.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,206,827 shares of company stock valued at $230,674,025. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Company 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.