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

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) saw a large decrease in short interest in the month of 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 volume of 29,470,000 shares, the days-to-cover ratio is presently 2.7 days.

Insiders Place Their Bets

In related news, insider Savalle Sims sold 169,436 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WBD. State Street Corp grew its holdings in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. increased its stake in Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock worth $234,386,000 after purchasing an additional 5,625,545 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Warner Bros. Discovery by 1,216.7% during 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 during the period. Drexel Morgan & Co. lifted its stake 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 valued at $54,454,000 after buying an additional 2,000,000 shares in the last quarter. Finally, Clifford Capital Partners LLC acquired a new position in shares of Warner Bros. Discovery in the second quarter worth about $14,760,000. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD traded down $0.32 during midday trading on Thursday, hitting $9.47. 20,721,089 shares of the stock were exchanged, compared to its average volume of 27,581,322. The business has a 50-day moving average price of $10.36 and a two-hundred day moving average price of $8.69. 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 company has a market capitalization of $23.23 billion, a price-to-earnings ratio of -2.07, a P/E/G ratio of 9.12 and a beta of 1.50. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70.

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

Analyst Ratings Changes

Several analysts recently weighed in on WBD shares. JPMorgan Chase & Co. boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday. Bank of America reissued a "buy" rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Macquarie lifted their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Rosenblatt Securities raised their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group boosted their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a research report on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $11.56.

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.