Warner Bros (WBD)

• Market cap: $44.5B
• 1 day: -1.42%
• 5 days: 42.89%
• 1 month: 52.2%
• 3 months: 70.04%
• 6 months: 71.66%
• Year to date: 68.76%
• 1 year: 112.9%
• 5 years: -29.45%
• 10 years: -29.45%
• Sector: Communication Services
• Industry: Entertainment

About: Warner Bros. Discovery was formed in 2022 through the combination of WarnerMedia and Discovery Communications. In 2026, it intends to split its global networks business from its streaming and studios businesses, forming two separate companies. The streaming business includes HBO Max, which is rapidly increasing its international footprint in addition to its major presence in the US. Studios include industry leaders in both film and television, which produce movies and television series that are monetized in multiple ways, including theatrical release, sales to third parties, and feeding into Warner's own platforms. Global networks consist of basic cable networks like CNN, TNT, TBS, Discovery, HGTV, and The Food Network. The Discovery+ streaming service will remain part of global networks.

Employees: 35,000

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

36% more call options, than puts

Call options by funds: $562M | Put options by funds: $413M

13% more capital invested

Capital invested by funds: $17.6B [Q1] → $19.9B (+$2.3B) [Q2]

4% more funds holding in top 10

Funds holding in top 10: 27 [Q1] → 28 (+1) [Q2]

3.31% more ownership

Funds ownership: 66.76% [Q1] → 70.07% (+3.31%) [Q2]

3% more first-time investments, than exits

New positions opened: 124 | Existing positions closed: 120

1% less funds holding

Funds holding: 1,153 [Q1] → 1,137 (-16) [Q2]

21% less repeat investments, than reductions

Existing positions increased: 363 | Existing positions reduced: 460

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $10
• Avg. target: $14.3
• High target: $18

10 analyst ratings

• positive: 5 50%
• neutral: 5 50%
• negative: 0 0%

TD Cowen Doug Creutz	$14	Hold Downgraded	16 Sep 2025
Wells Fargo Steven Cahall	$14	Equal-Weight Maintained	11 Sep 2025
Raymond James Ric Prentiss	$13	Outperform Maintained	8 Aug 2025
Keybanc Brandon Nispel	$16	Overweight Maintained	8 Aug 2025
Morgan Stanley Benjamin Swinburne	$13	Equal-Weight Maintained	6 Aug 2025