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

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on WBD shares. Macquarie increased their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Bank of America restated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Raymond James upped their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, KeyCorp upped 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. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.56.

Warner Bros. Discovery Stock Performance

WBD opened at $9.79 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $10.36 and its two-hundred day moving average price is $8.69. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70.

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

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction 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 completion of the sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Rosenberg Matthew Hamilton raised its holdings in Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after acquiring an additional 3,743 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after buying an additional 1,754 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $41,000. Tompkins Financial Corp boosted its position in shares of Warner Bros. Discovery by 50.8% during the 4th quarter. Tompkins Financial Corp now owns 5,285 shares of the company’s stock valued at $56,000 after acquiring an additional 1,780 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Warner Bros. Discovery in the third quarter valued at about $51,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Company Profile

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.