Short Interest in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Increases By 23.6%

Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 86,220,000 shares, an increase of 23.6% from the March 15th total of 69,730,000 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 37,770,000 shares, the days-to-cover ratio is currently 2.3 days.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Warner Bros. Discovery

Institutional investors have recently made changes to their positions in the company. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. raised its stake in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the period. Graney & King LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth about $28,000. Finally, Ethos Financial Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $29,000. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Citigroup raised their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Barclays lowered their price objective on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Finally, KeyCorp dropped their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Price Performance

WBD stock opened at $7.94 on Tuesday. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70. 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 company has a market capitalization of $19.49 billion, a PE ratio of -1.73, a P/E/G ratio of 8.64 and a beta of 1.43. The stock’s 50 day moving average is $9.97 and its two-hundred day moving average is $9.77.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

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.