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

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

Warner Bros. Discovery Trading Down 3.3 %

Shares of WBD stock opened at $9.47 on Friday. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of -2.07, a PEG ratio of 9.12 and a beta of 1.50. The company has a 50-day simple moving average of $10.36 and a two-hundred day simple moving average of $8.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data 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 business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the business earned ($0.17) EPS. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. Research analysts anticipate that Warner Bros. Discovery will post -4.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday. Macquarie increased their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Raymond James boosted their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $11.56.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated 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 transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds have recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $33,000. Rosenberg Matthew Hamilton boosted its stake in Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares during the last quarter. Larson Financial Group LLC increased its position in Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery during the third quarter worth approximately $41,000. Finally, Tompkins Financial Corp raised its stake in shares of Warner Bros. Discovery by 50.8% in the fourth 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 during the period. Institutional investors 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.