Warner Bros. Discovery, Inc. (NASDAQ:WBD) Sees Large Decline in Short Interest

Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 54,530,058 shares, a decrease of 29.6% from the January 15th total of 77,486,708 shares. Based on an average daily volume of 21,904,693 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.2% of the company’s shares are short sold. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 21,904,693 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley set a $29.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 18th. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. UBS Group boosted their target price on Warner Bros. Discovery from $20.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Guggenheim downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and increased their price target for the stock from $25.00 to $30.00 in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $29.50 price objective on shares of Warner Bros. Discovery in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.94.

Insider Activity

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori C. Locke sold 5,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $27.62, for a total value of $138,100.00. Following the completion of the sale, the chief accounting officer directly owned 110,084 shares of the company’s stock, valued at approximately $3,040,520.08. This trade represents a 4.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 267,116 shares of company stock worth $7,781,731 in the last three months. Insiders own 1.90% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

Hedge funds and other institutional investors have recently made changes to their positions in the business. Concord Wealth Partners grew its position in Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 440 shares in the last quarter. Swiss RE Ltd. acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $26,000. Physician Wealth Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after buying an additional 847 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at about $29,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $29,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $27.99 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $69.36 billion, a price-to-earnings ratio of 147.32 and a beta of 1.64. The stock’s 50-day moving average is $28.37 and its 200-day moving average is $21.53. Warner Bros. Discovery has a one year low of $7.52 and a one year high of $30.00.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.