Short Interest in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Declines By 15.5%

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

Analyst Ratings Changes

Several brokerages have issued reports on WBD. Guggenheim boosted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Thursday, December 12th. Macquarie lifted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Barclays upped their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Finally, Barrington Research restated an "outperform" rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and an average target price of $11.76.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares of the company's stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Warner Bros. Discovery

Hedge funds have recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of Warner Bros. Discovery during the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery during the 4th quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new position in Warner Bros. Discovery in the fourth quarter worth about $37,000. Rosenberg Matthew Hamilton lifted its stake in shares of Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company's stock worth $48,000 after buying an additional 3,743 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Warner Bros. Discovery by 54.1% during the third 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 during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 1.8 %

NASDAQ:WBD traded up $0.19 during trading hours on Thursday, hitting $10.62. The company had a trading volume of 24,746,168 shares, compared to its average volume of 26,323,652. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a 50-day moving average price of $10.46 and a 200 day moving average price of $8.89. The company has a market capitalization of $26.05 billion, a PE ratio of -2.32, a price-to-earnings-growth ratio of 6.12 and a beta of 1.50. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating 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 firm 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) EPS. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

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.