New York State Common Retirement Fund Trims Position in Warner Bros. Discovery, Inc. $WBD

Posted by Hanz Christensen on Feb 1st, 2026

New York State Common Retirement Fund decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,235,739 shares of the company’s stock after selling 19,400 shares during the quarter. New York State Common Retirement Fund’s holdings in Warner Bros. Discovery were worth $24,134,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Warner Bros. Discovery by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 262,477,555 shares of the company’s stock worth $3,007,993,000 after acquiring an additional 5,657,524 shares during the period. Geode Capital Management LLC raised its stake in shares of Warner Bros. Discovery by 0.9% during the second quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company’s stock worth $685,798,000 after purchasing an additional 551,548 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Warner Bros. Discovery by 2.8% during the second quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock worth $510,824,000 after purchasing an additional 1,233,195 shares during the period. Norges Bank purchased a new position in Warner Bros. Discovery in the 2nd quarter valued at $306,848,000. Finally, Pacer Advisors Inc. increased its stake in Warner Bros. Discovery by 4,639.8% in the 3rd quarter. Pacer Advisors Inc. now owns 22,788,847 shares of the company’s stock valued at $445,066,000 after buying an additional 22,308,046 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.2%

WBD opened at $27.54 on Friday. The business’s fifty day moving average is $27.69 and its two-hundred day moving average is $20.58. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $68.24 billion, a price-to-earnings ratio of 144.95 and a beta of 1.56. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the prior year, the business earned $0.05 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

WBD has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $29.50 target price on shares of Warner Bros. Discovery in a report on Monday, December 8th. Barrington Research cut Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. Barclays set a $20.00 target price on Warner Bros. Discovery in a research note on Wednesday, October 8th. Benchmark lifted their price target on Warner Bros. Discovery from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Moffett Nathanson upped their price objective on Warner Bros. Discovery from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus target price of $25.08.

Read Our Latest Stock Report on Warner Bros. Discovery

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 5,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $27.62, for a total value of $138,100.00. Following the sale, the chief accounting officer owned 110,084 shares of the company’s stock, valued at $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the transaction, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 267,116 shares of company stock valued at $7,781,731. 1.90% of the stock is currently owned by company insiders.

Key Headlines Impacting Warner Bros. Discovery

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

Positive Sentiment: An Argus analyst reiterated a positive outlook on WBD, saying the stock is expected to rise—this provides a near-term bullish analyst catalyst that can support the share price. Warner Bros. Discovery (NASDAQ:WBD) Stock Price Expected to Rise, Argus Analyst Says
Positive Sentiment: Warner Bros. Discovery struck a promotional/distribution partnership with X around the Winter Olympics—such platform deals can broaden reach and ad inventory, supporting ad revenue and streaming promotional efforts. Warner Bros. Discovery Partners With X On Winter Olympics
Positive Sentiment: Market speculation and trading flow show bets around a possible Warner Bros.–Netflix deal; heightened positioning can amplify moves if deal optimism increases. (High short interest in WBD also raises volatility.) Wall Street traders show their hands with bets on Warner Bros. Discovery-Netflix deal
Neutral Sentiment: Reports say Barry Diller expressed interest in buying CNN from WBD, but WBD publicly said CNN is not for sale and the idea did not advance to the board—this creates occasional M&A chatter but no concrete asset-sale catalyst. Barry Diller Told Warner Discovery He’s Interested in Buying CNN
Neutral Sentiment: Profiles and commentary on potential leadership/strategy moves (e.g., coverage of David Ellison’s plans) add background on governance and strategic options but contain limited immediate financial detail. What Is David Ellison’s Warner Bros. Endgame?
Negative Sentiment: Filmmakers and small theaters have urged state attorneys general to block the reported Netflix–Warner Bros. deal—this raises regulatory/legal risk that could scuttle or materially delay any transaction and weigh on the stock. State AGs urged by filmmakers, small theaters to block Netflix-Warner Bros. deal: report
Negative Sentiment: Industry reporting highlights weakening box-office performance for major franchise films—this is a headwind for WBD’s theatrical revenue and franchise monetization, increasing near-term revenue uncertainty. Hollywood has an IP problem: Box office sales are banking on franchise hits that keep falling flat

Warner Bros. Discovery 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.