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

Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 111,740,000 shares, anincreaseof425.8% from the June 30th total of 21,250,000 shares. Based on an average trading volume of 55,220,000 shares, the days-to-cover ratio is presently 2.0 days. Currently,4.8% of the shares of the company are sold short. Currently,4.8% of the shares of the company are sold short. Based on an average trading volume of 55,220,000 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Warner Bros. Discovery by 1.7% during the first quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock valued at $2,755,679,000 after buying an additional 4,169,240 shares in the last quarter. Invesco Ltd. boosted its position in Warner Bros. Discovery by 2.1% during the first quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock valued at $465,052,000 after purchasing an additional 873,869 shares during the last quarter. Sessa Capital IM L.P. boosted its position in Warner Bros. Discovery by 4.0% during the first quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock valued at $317,128,000 after purchasing an additional 1,144,849 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Warner Bros. Discovery by 4.5% during the first quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company’s stock valued at $264,734,000 after purchasing an additional 1,063,535 shares during the last quarter. Finally, Slate Path Capital LP boosted its position in Warner Bros. Discovery by 36.6% during the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock valued at $251,577,000 after purchasing an additional 6,381,000 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the topic of several analyst reports. Guggenheim restated a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Citigroup lowered their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. KeyCorp lifted their price target on Warner Bros. Discovery from $13.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Huber Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, June 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average price target of $12.66.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $12.80 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $31.42 billion, a price-to-earnings ratio of -2.91 and a beta of 1.57. The stock’s fifty day simple moving average is $11.34 and its 200 day simple moving average is $10.27. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

About Warner Bros. Discovery

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.