WBD

Warner Bros. Discovery, Inc.

Nasdaq · Cable & Other Pay Television Services · Inc. DE · CIK 0001437107
$27.34 -0.29% $68.7B
Insider Selling Cluster (8 insiders)High Impact Filing (7/10)7 Institutional Exits
Vol
Market Cap$68.7B
Cap SizeLarge Cap
Analyst ConsensusSell (23%)
Inst. Holders10 funds
Inst. Value$12.0B
Inst. Activity1 buys / 7 sells
Insider Activity0B / 8S
Insider Net $-$167.6M
Reddit Sentiment50° Neutral
SEC Reports13
Congressional2 trades
Exchange Nasdaq·Sector Cable & Other Pay Television Services·Inc. DE·CIK 0001437107·Prev Close $27.42

Recent Activity

May 19, 2026 SEC
WBD subsidiaries commenced consent solicitations to amend indentures on ~$16.5B of outstanding notes, extending the dead
8-K — Impact 4/10
May 6, 2026 earnings_calendar
WBD Q1 2026 Earnings Before Market Open — 2026-05-06
Apr 30, 2026 SEC
Warner Bros. Discovery (WBD) filed an 8-K disclosing a new employment agreement with CFO Gunnar Wiedenfels, effective Ju
8-K — Impact 2/10
Apr 16, 2026 SEC
Warner Bros. Discovery (WBD) filed a supplemental proxy statement to address litigation and stockholder demands related
DEFA14A — Impact 7/10
Apr 15, 2026 Insider
Girdwood Amy sold 225,624 shares
Chief People & Culture Officer @ $27.20 ($6.1M)
Mar 30, 2026 Event
1:24-cv-09027 Collura v. Warner Bros. Discovery, Inc. et al
Court ruling from United States District Court for the Southern District of New York. Docket: N/A
Mar 27, 2026 Insider
Noto Anthony sold 1,063 shares
Director @ $0.00 ($0.00)
Mar 27, 2026 Insider
Price Paula A sold 1,340 shares
Director @ $0.00 ($0.00)

Price Targets

$29.65 +8.4% upside Buy
Current $27.35 Low $26.00 Median $31.00 High $31.25 12 analysts
$26.00 $31.25

Analyst Ratings

Sell23% buy · 26 analysts
2Strong Buy
4Buy
18Hold
2Sell
0Strong Sell
Recent Analyst Actions
DateFirmActionRating
May 7, 2026 UBS MAINTAIN Neutral → Neutral
May 7, 2026 Guggenheim REITERATE Neutral → Neutral
Mar 10, 2026 Freedom Broker MAINTAIN Hold → Hold
Feb 27, 2026 TD Cowen MAINTAIN Hold → Hold
Feb 27, 2026 Raymond James DOWNGRADE Outperform → Underperform

Earnings Estimates

PeriodEPS Est.RangeGrowth#
Current Q $-0.08 ▼ -22.7% $-0.32 — $0.12 -113% YoY 12
Next Q $0.02 ▼ -68.8% $-0.17 — $0.25 140% YoY 13
Current FY $-1.24 ▼ -1400.4% $-1.61 — $-0.59 -527% YoY 10
Next FY $0.01 ▲ +190.0% $-0.53 — $0.49 101% YoY 12

Top Institutional Holders

FundValueMove
VANGUARD GROUP INC$8.2B
NORGES BANK$1.1BNEW
FMR LLC$867.6MTRIM
MORGAN STANLEY$791.5M
CHARLES SCHWAB INVESTMENT MANAGEMENT$560.6MNEW

Recent Insider Trades

DateInsiderTypeValue
Apr 15, 2026Girdwood AmyF$6.1M
Mar 27, 2026Noto AnthonyA$0.00
Mar 27, 2026Price PaulaA$0.00
Mar 16, 2026GOULD PAULSELL$16.4M
Mar 16, 2026Merchant FazalSELL$961.8K

Reddit Sentiment

50°
Neutral
Bearish Neutral Bullish
19 mentions 6 bullish 6 bearish

Congressional Trades

2 members: 1 buys, 1 sells
MemberPartyTypeAmount
August PflugerRSELL$1,001 - $15,000
Gilbert CisnerosDBUY$1,001 - $15,000
10 institutional holders with $12.0B total value (418,099,259 shares) as of 2025-Q4. Top holders: VANGUARD, NORGES, FMR. Net selling activity: 7 institutions trimmed/exited vs 1 added.

Top Institutional Holders — 2025-Q4

#FundSharesValue% of TrackedLast Move
1VANGUARD GROUP INC283,180,433$8.2B67.7%
2NORGES BANK38,994,003$1.1B9.3%NEW
3FMR LLC30,105,550$867.6M7.2%TRIM -27.2%
4MORGAN STANLEY27,462,742$791.5M6.6%
5CHARLES SCHWAB INVESTMENT MANAGEMENT INC19,452,808$560.6M4.7%NEW
6BANK OF AMERICA CORP /DE/13,636,049$393.0M3.3%TRIM -33.4%
7WELLS FARGO & COMPANY/MN2,279,599$65.7M0.5%TRIM -30.2%
8YACKTMAN ASSET MANAGEMENT LP1,782,860$51.4M0.4%NEAR_EXIT -75.7%
9SOUND SHORE MANAGEMENT INC /CT/990,615$28.5M0.2%NEAR_EXIT -77.2%
10Hillman Capital Management, Inc.214,600$6.2M0.1%TRIM -35.1%

Recent Position Changes

FundActionPrev SharesCurr SharesChange %ValueQuarter
NORGES BANKNEW38,994,003$1.1B2025-Q4
FMR LLCTRIM41,368,38930,105,550-27.2%$867.6M2025-Q4
BANK OF AMERICA CORP /DE/TRIM20,462,53013,636,049-33.4%$393.0M2025-Q4
YACKTMAN ASSET MANAGEMENT LPNEAR_EXIT7,338,3371,782,860-75.7%$51.4M2025-Q4
SOUND SHORE MANAGEMENT INC /CT/NEAR_EXIT4,340,858990,615-77.2%$28.5M2025-Q4
Hillman Capital Management, Inc.TRIM330,727214,600-35.1%$6.2M2025-Q4
RENAISSANCE TECHNOLOGIES LLCEXIT2,177,4000-100.0%$0.002025-Q4
TWO SIGMA INVESTMENTS, LPEXIT19,4000-100.0%$0.002025-Q4
FMR LLCDOUBLED18,365,45041,368,389+125.3%$807.9M2025-Q3
SOUND SHORE MANAGEMENT INC /CT/TRIM8,547,2384,340,858-49.2%$84.8M2025-Q3
RENAISSANCE TECHNOLOGIES LLCNEW2,177,400$42.5M2025-Q3
WELLS FARGO & COMPANY/MNTRIM2,622,7241,831,888-30.2%$35.8M2025-Q3
Hillman Capital Management, Inc.TRIM595,547330,727-44.5%$6.5M2025-Q3
TWO SIGMA INVESTMENTS, LPNEW19,400$378.9K2025-Q3
Duquesne Family Office LLCEXIT6,537,1600-100.0%$0.002025-Q3
NORGES BANKEXIT26,775,5430-100.0%$0.002025-Q3
Cullen Capital Management, LLCEXIT109,6900-100.0%$0.002025-Q3
NORGES BANKNEW26,775,543$306.8M2025-Q2
SOUND SHORE MANAGEMENT INC /CT/NEW8,547,238$98.0M2025-Q2
WELLS FARGO & COMPANY/MNTRIM3,551,5302,622,724-26.2%$30.1M2025-Q2
Duquesne Family Office LLCNEW6,537,160$74.9K2025-Q2
RENAISSANCE TECHNOLOGIES LLCEXIT296,4590-100.0%$0.002025-Q2
FMR LLCADD14,278,60020,571,716+44.1%$220.7M2025-Q1
CITADEL ADVISORS LLCTRIM16,378,3686,831,672-58.3%$73.3M2025-Q1
Hillman Capital Management, Inc.TRIM922,574658,034-28.7%$7.1M2025-Q1
14 unique insiders with 8 transactions. Net insider value: -$167.6M ($0.00 bought, $167.6M sold).

Insider Transactions

DateInsiderTitleTypeSharesPriceValue
Apr 15, 2026Girdwood AmyChief People & Culture OfficerF225,624$27.20$6.1M
Mar 27, 2026Noto AnthonyDirectorA1,063$0.00$0.00
Mar 27, 2026Price Paula ADirectorA1,340$0.00$0.00
Mar 16, 2026GOULD PAUL ADirectorSELL600,000$27.35$16.4M
Mar 16, 2026Merchant Fazal FDirectorSELL35,000$27.48$961.8K
Mar 16, 2026Perrette Jean-BriacPres.&CEO, Global StreamingSELL659,120$27.42$18.1M
Mar 10, 2026Aiyar PriyaChief Legal OfficerM77,243$0.00$0.00
Mar 10, 2026Aiyar PriyaChief Legal OfficerM77,243$11.02$851.2K
Mar 10, 2026Aiyar PriyaChief Legal OfficerSELL21,408$27.85$596.2K
Mar 10, 2026LEE DEBRA LDirectorG16,345$0.00$0.00
Mar 9, 2026Campbell BruceChief Rev & Strategy OfficerSELL41,784$27.82$1.2M
Mar 6, 2026Campbell BruceChief Rev & Strategy OfficerF43,578$27.95$1.2M
Mar 6, 2026Perrette Jean-BriacPres.&CEO, Global StreamingF43,433$27.95$1.2M
Mar 6, 2026Wiedenfels GunnarChief Financial OfficerF43,578$27.95$1.2M
Mar 6, 2026Zeiler GerhardPresident, InternationalF35,213$27.95$984.2K
Mar 4, 2026Wiedenfels GunnarChief Financial OfficerM91,418$15.02$1.4M
Mar 4, 2026Wiedenfels GunnarChief Financial OfficerM91,418$0.00$0.00
Mar 4, 2026Wiedenfels GunnarChief Financial OfficerM123,588$0.00$0.00
Mar 4, 2026Zeiler GerhardPresident, InternationalSELL600,000$28.02$16.8M
Mar 4, 2026Campbell BruceChief Rev & Strategy OfficerM183,346$25.70$4.7M
Mar 4, 2026Campbell BruceChief Rev & Strategy OfficerM183,346$0.00$0.00
Mar 3, 2026Girdwood AmyChief People & Culture OfficerF6,971$28.20$196.6K
Mar 3, 2026Zeiler GerhardPresident, InternationalF23,757$28.20$669.9K
Mar 3, 2026Perrette Jean-BriacPres.&CEO, Global StreamingF34,797$28.20$981.3K
Mar 3, 2026Locke Lori C.Chief Accounting OfficerF6,379$28.20$179.9K
Mar 3, 2026FISHER RICHARD WDirectorSELL16,345$28.31$462.7K
Mar 3, 2026Campbell BruceChief Rev & Strategy OfficerF31,765$28.20$895.8K
Mar 3, 2026Zaslav DavidChief Executive Officer & PresSELL4,004,149$28.26$113.2M
Mar 3, 2026Aiyar PriyaChief Legal OfficerF14,587$28.20$411.4K
Mar 3, 2026Wiedenfels GunnarChief Financial OfficerF29,401$28.20$829.1K
Mar 2, 2026Aiyar PriyaChief Legal OfficerA88,747$0.00$0.00
Mar 2, 2026Zeiler GerhardPresident, InternationalA117,146$0.00$0.00
Mar 2, 2026Wiedenfels GunnarChief Financial OfficerA156,195$0.00$0.00
Mar 2, 2026Perrette Jean-BriacPres.&CEO, Global StreamingA165,957$0.00$0.00
Mar 2, 2026Campbell BruceChief Rev & Strategy OfficerA165,957$0.00$0.00
Mar 2, 2026Girdwood AmyChief People & Culture OfficerA93,717$0.00$0.00
Mar 2, 2026Locke Lori C.Chief Accounting OfficerA29,287$0.00$0.00
Feb 27, 2026Zeiler GerhardPresident, InternationalF353,530$28.17$10.0M
Feb 27, 2026Wiedenfels GunnarChief Financial OfficerF459,495$28.17$12.9M
Feb 27, 2026Perrette Jean-BriacPres.&CEO, Global StreamingF476,466$28.17$13.4M
Feb 27, 2026Locke Lori C.Chief Accounting OfficerF7,849$28.17$221.1K
Feb 27, 2026Campbell BruceChief Rev & Strategy OfficerF465,146$28.17$13.1M
Feb 27, 2026Girdwood AmyChief People & Culture OfficerF12,032$28.17$338.9K
Feb 24, 2026Wiedenfels GunnarChief Financial OfficerA254,802$0.00$0.00
Feb 24, 2026Zeiler GerhardPresident, InternationalA191,102$0.00$0.00
Feb 24, 2026Perrette Jean-BriacPres.&CEO, Global StreamingA270,728$0.00$0.00
Feb 24, 2026Campbell BruceChief Rev & Strategy OfficerA270,728$0.00$0.00
Feb 24, 2026Zaslav DavidChief Executive Officer & PresA2,094,242$0.00$0.00
13 SEC filing reports analyzed. Sentiment: 2 bullish, 4 bearish, 3 mixed, 4 neutral. Avg impact: 5.9/10.
NEUTRAL 8-K 4/10
WBD subsidiaries commenced consent solicitations to amend indentures on ~$16.5B of outstanding notes
May 19, 2026
NEUTRAL 8-K 2/10
Warner Bros. Discovery (WBD) filed an 8-K disclosing a new employment agreement with CFO Gunnar Wied
Apr 30, 2026
MIXED DEFA14A 7/10
Warner Bros. Discovery (WBD) filed a supplemental proxy statement to address litigation and stockhol
Apr 16, 2026
NEUTRAL COURT-RULING 3/10
Analysis based on filing metadata only — document content was unavailable
Mar 30, 2026
NEUTRAL COURT-RULING 2/10
Analysis based on filing metadata only — document content was unavailable
Mar 30, 2026
BEARISH CLUSTER 7/10
Three corporate insiders at Warner Bros. Discovery — including CEO of Global Streaming Perrette Jean
Mar 18, 2026
BEARISH CLUSTER 6/10
Three insiders at Warner Bros. Discovery sold shares in the past week, including two directors who o
Mar 16, 2026
BULLISH PREM14A 9/10
Warner Bros. Discovery (WBD) is being acquired by Paramount Skydance Corporation (PSKY) in an all-ca
Mar 16, 2026
BEARISH CLUSTER 7/10
Warner Bros. Discovery insiders executed a large cluster of transactions over the past week, highlig
Mar 6, 2026
BEARISH INST-CLUSTER 8/10
In Q4 2025, a significant institutional cluster emerged in Warner Bros. Discovery (WBD) with 7 major
Feb 28, 2026
BULLISH DEFA14A 8/10
Warner Bros. Discovery's board has determined that Paramount Skydance's revised $31.00 per share all
Feb 26, 2026
MIXED 8-K 7/10
Warner Bros. Discovery reported declining financial performance in Q4 and full-year 2025, with total
Feb 26, 2026
MIXED DEFA14A 7/10
Warner Bros. Discovery (WBD) confirmed receipt of a revised acquisition proposal from Paramount Skyd
Feb 24, 2026

No press releases analyzed yet. Press releases are collected from GlobeNewsWire and analyzed by the LLM pipeline.

Current analyst consensus: Sell (23% buy). Based on 26 analysts: 2 strong buy, 4 buy, 18 hold, 2 sell, 0 strong sell.

Analyst Price Targets

$29.65 mean target +8.4% upside Buy (3.15)
$26.00 Low $31.25 High
MetricValue
Current Price$27.35
Target Low$26.00
Target Mean$29.65
Target Median$31.00
Target High$31.25
# Analysts12
RecommendationBuy (3.15)

Earnings Estimates & Revisions

PeriodEPS AvgEPS LowEPS HighEPS Growth30d Rev.Up/DownRev. AvgRev. GrowthAnalysts
Current Q
2026-06-30
$-0.08 $-0.32 $0.12 -113.4% -22.7% 2↑ 6↓ $9.2B -6.0% 12
Next Q
2026-09-30
$0.02 $-0.17 $0.25 140.3% -68.8% 1↑ 7↓ $9.0B -0.9% 13
Current FY
2026-12-31
$-1.24 $-1.61 $-0.59 -526.7% -1400.4% 0↑ 10↓ $37.0B -0.8% 10
Next FY
2027-12-31
$0.01 $-0.53 $0.49 101.2% +190.0% 3↑ 2↓ $38.2B 3.2% 12

Current Quarter EPS Revision History

TimepointEPS EstimateChange
Current$-0.084
7d ago$-0.069-0.015
30d ago$-0.069-0.016
60d ago$-0.054-0.030
90d ago$-0.093+0.009
9 analyst firms have rated this stock: 0 upgrades, 4 downgrades, 0 initiations.

Individual Analyst Actions

DateAnalyst FirmActionPrevious RatingNew Rating
May 7, 2026 UBS MAINTAIN Neutral Neutral
May 7, 2026 Guggenheim REITERATE Neutral Neutral
Mar 10, 2026 Freedom Broker MAINTAIN Hold Hold
Feb 27, 2026 TD Cowen MAINTAIN Hold Hold
Feb 27, 2026 Raymond James DOWNGRADE Outperform Underperform
Feb 27, 2026 Benchmark DOWNGRADE Buy Hold
Feb 25, 2026 Bernstein MAINTAIN Market Perform Market Perform
Jan 28, 2026 UBS MAINTAIN Neutral Neutral
Jan 15, 2026 Benchmark MAINTAIN Buy Buy
Jan 14, 2026 Guggenheim MAINTAIN Neutral Neutral
Dec 10, 2025 Freedom Broker MAINTAIN Hold Hold
Dec 9, 2025 Seaport Global DOWNGRADE Buy Neutral
Dec 8, 2025 Benchmark MAINTAIN Buy Buy
Dec 5, 2025 Barrington Research DOWNGRADE Outperform Market Perform

Monthly Consensus History

PeriodStrong BuyBuyHoldSellStrong SellBuy %Distribution
May 1, 202624182023%
Apr 1, 202624182023%
Mar 1, 202634173026%
Feb 1, 202639141044%
Jan 1, 202649121050%
Strong BuyBuyHoldSellStrong Sell
2 members of Congress traded this stock: 1 buys, 1 sells.

Congressional Trades

DateMemberPartyChamberTypeAmountAssetDisclosed
Feb 10, 2026August PflugerRHOUSESELL$1,001 - $15,000Warner Bros Discover IncMar 19, 2026 (38d)
Jan 9, 2026Gilbert CisnerosDHOUSEBUY$1,001 - $15,000Warner Bros Discover IncFeb 16, 2026 (39d)
50°
Neutral
Bearish Neutral Bullish
19 mentions 6 bullish 6 bearish 17 time periods

Reddit Sentiment History

DateMentionsSentimentBullishBearishThreads
Apr 8, 2026144° Neutral001
Apr 8, 2026144° Neutral001
Apr 7, 2026140° Cool011
Apr 7, 2026140° Cool011
Apr 6, 2026160° Warm101
Apr 6, 2026160° Warm101
Apr 3, 2026140° Cool011
Apr 3, 2026140° Cool011
Mar 23, 2026140° Cool011
Mar 23, 2026140° Cool011
Feb 27, 2026150° Neutral001
Feb 27, 2026160° Warm101
Feb 27, 2026356° Neutral003
Feb 27, 2026160° Warm101
Feb 26, 2026160° Warm101
Feb 26, 2026160° Warm101
Feb 23, 2026156° Neutral001

Recent Reddit Threads

r/wallstreetbets Bullish 2mo ago
WBD deem Paramount offer Superior
▲ 370 💬 173 ⚡ 59.8
r/stocks Bearish 1mo ago
LION - Update #4 - Position & Thesis
▲ 2 💬 0 ⚡ 0.5
r/options Neutral 1mo ago
call spread confusion
▲ 1 💬 0 ⚡ 0.5
r/stocks Bearish 1mo ago
$WBD Here we go . https://discord.gg/kNzKJ64k9K
▲ 1 💬 0 ⚡ 0.5
r/wallstreetbets Bearish 1mo ago
PSKY - Paramount+
▲ 1 💬 1 ⚡ 0.5
r/stocks Bullish 1mo ago
Vote NO during the Shareholder vote on April 23rd
▲ 1 💬 0 ⚡ 0.5
r/stocks Bullish 2mo ago
WBD stock holder. What does this deal mean for me?
▲ 1 💬 0 ⚡ 0.0
r/stocks Bullish 2mo ago
Oracle thesis -- AI makes movies
▲ 1 💬 0 ⚡ 0.0
r/stocks Neutral 2mo ago
If Elon Musk buys PayPal - analysis
▲ 0 💬 13
May 6, 2026
earnings_calendar
WBD Q1 2026 Earnings Before Market Open — 2026-05-06
Apr 29, 2026
short_volume
Short Volume: WBD — 57.6% short (2.6M / 4.5M)
Short: 2,620,432 | Exempt: 3,154 | TRF Vol: 4,548,562 | Short Ratio: 57.6% | Off-exchange volume (dark pool + OTC)
Apr 29, 2026
short_interest
FTD: WBD — 72,090 shares ($1.9M) failed to deliver
Settlement: 20260429, Price: $26.95, FTD Value: $1,942,825.5, WARNER BROS DISCOVERY INC COM
Apr 27, 2026
dark_pool
Dark Pool: WBD — 15.8M shares, 72,553 trades
Week starting 2026-04-27. Total ATS volume: 15,841,329 shares across 72,553 trades.
Apr 20, 2026
dark_pool
Dark Pool: WBD — 16.1M shares, 64,613 trades
Week starting 2026-04-20. Total ATS volume: 16,071,571 shares across 64,613 trades.
Apr 13, 2026
dark_pool
Dark Pool: WBD — 20.7M shares, 79,125 trades
Week starting 2026-04-13. Total ATS volume: 20,697,434 shares across 79,125 trades.
Apr 10, 2026
short_volume
Short Volume: WBD — 57.2% short (3.7M / 6.5M)
Short: 3,704,496 | Exempt: 174 | TRF Vol: 6,473,493 | Short Ratio: 57.2% | Off-exchange volume (dark pool + OTC)
Apr 7, 2026
short_interest
FTD: WBD — 22,409 shares ($0.6M) failed to deliver
Settlement: 20260407, Price: $27.41, FTD Value: $614,230.69, WARNER BROS DISCOVERY INC COM
Apr 6, 2026
dark_pool
Dark Pool: WBD — 22.4M shares, 97,311 trades
Week starting 2026-04-06. Total ATS volume: 22,351,074 shares across 97,311 trades.
Mar 30, 2026
dark_pool
Dark Pool: WBD — 25.2M shares, 106,637 trades
Week starting 2026-03-30. Total ATS volume: 25,162,303 shares across 106,637 trades.
Mar 30, 2026
Enforcement
1:24-cv-09027 Collura v. Warner Bros. Discovery, Inc. et al
Court ruling from United States District Court for the Southern District of New York. Docket: N/A
Mar 30, 2026
Enforcement
1:25-cv-06810 Polaris Images Corp. v. Warner Bros. Discovery, Inc.
Court ruling from United States District Court for the Southern District of New York. Docket: N/A
Mar 23, 2026
dark_pool
Dark Pool: WBD — 29.9M shares, 144,608 trades
Week starting 2026-03-23. Total ATS volume: 29,867,153 shares across 144,608 trades.
Mar 20, 2026
short_interest
FTD: WBD — 47,678 shares ($1.3M) failed to deliver
Settlement: 20260320, Price: $27.63, FTD Value: $1,317,343.14, WARNER BROS DISCOVERY INC COM
Mar 17, 2026
short_interest
FTD: WBD — 664,087 shares ($18.3M) failed to deliver
Settlement: 20260317, Price: $27.51, FTD Value: $18,269,033.37, WARNER BROS DISCOVERY INC COM
Mar 16, 2026
dark_pool
Dark Pool: WBD — 33.5M shares, 138,820 trades
Week starting 2026-03-16. Total ATS volume: 33,464,501 shares across 138,820 trades.
Mar 9, 2026
dark_pool
Dark Pool: WBD — 25.6M shares, 121,164 trades
Week starting 2026-03-09. Total ATS volume: 25,580,296 shares across 121,164 trades.