Warner Bros. Discovery, Inc. (NASDAQ:WBD) Short Interest Update

Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 80,050,000 shares, a decline of 15.5% from the December 15th total of 94,760,000 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 29,470,000 shares, the days-to-cover ratio is presently 2.7 days.

Insider Activity

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. increased its position in shares of Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after purchasing an additional 5,625,545 shares during the period. Mackenzie Financial Corp raised its stake in shares of Warner Bros. Discovery by 1,216.7% in the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares in the last quarter. Drexel Morgan & Co. grew its holdings in Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after acquiring an additional 2,000,000 shares during the period. Finally, Clifford Capital Partners LLC bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $14,760,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 0.6 %

Shares of Warner Bros. Discovery stock opened at $9.79 on Thursday. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The business’s 50 day simple moving average is $10.36 and its 200-day simple moving average is $8.69.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Warner Bros. Discovery’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) EPS. As a group, equities research analysts expect that Warner Bros. Discovery will post -4.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WBD shares. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. KeyCorp lifted their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.56.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.