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

Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 54,530,058 shares, a drop 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 short-interest ratio is presently 2.5 days. Currently, 2.2% of the shares of the company are sold short. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 21,904,693 shares, the short-interest ratio is presently 2.5 days.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $27.99 on Friday. Warner Bros. Discovery has a twelve month low of $7.52 and a twelve month high of $30.00. The business’s fifty day moving average is $28.37 and its 200 day moving average is $21.59. The stock has a market cap of $69.36 billion, a price-to-earnings ratio of 147.32 and a beta of 1.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Wall Street Analyst Weigh In

WBD has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. TD Cowen boosted their price objective on Warner Bros. Discovery from $14.00 to $22.00 in a research note on Friday, November 7th. Morgan Stanley set a $29.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 18th. Barrington Research downgraded Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Guggenheim lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating and boosted their target price for the company from $25.00 to $30.00 in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average target price of $24.94.

Insider Buying and Selling at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the sale, the chief financial officer owned 918,940 shares in the company, valued at $27,108,730. This 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 available through the SEC website. Also, CAO Lori C. Locke sold 4,122 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the sale, the chief accounting officer owned 100,962 shares in the company, valued at $2,919,821.04. This trade represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 267,116 shares of company stock worth $7,781,731. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Warner Bros. Discovery

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock worth $8,161,260,000 after purchasing an additional 1,966,278 shares during the period. Geode Capital Management LLC raised its holdings in shares of Warner Bros. Discovery by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock worth $1,912,634,000 after buying an additional 1,028,346 shares during the period. Invesco Ltd. boosted its position in Warner Bros. Discovery by 2.8% in the 2nd quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock valued at $510,824,000 after buying an additional 1,233,195 shares during the period. Norges Bank purchased a new position in Warner Bros. Discovery during the 4th quarter valued at about $1,123,807,000. Finally, Jericho Capital Asset Management L.P. grew its stake in Warner Bros. Discovery by 108.9% in the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after purchasing an additional 18,291,865 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.