Short Interest in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Expands By 17.4%

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 106,610,000 shares, a growth of 17.4% from the April 30th total of 90,810,000 shares. Currently, 4.8% of the company's stock are short sold. Based on an average daily volume of 43,360,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Investors Weigh In On Warner Bros. Discovery

Several hedge funds have recently modified their holdings of WBD. Strs Ohio acquired a new position in Warner Bros. Discovery during the first quarter valued at $13,670,000. Geneos Wealth Management Inc. increased its holdings in shares of Warner Bros. Discovery by 23.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 14,090 shares of the company's stock valued at $151,000 after purchasing an additional 2,721 shares during the period. Focus Partners Wealth increased its holdings in shares of Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company's stock valued at $1,254,000 after purchasing an additional 55,837 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth approximately $125,000. Finally, SCS Capital Management LLC purchased a new position in Warner Bros. Discovery during the first quarter valued at approximately $124,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded down $0.14 during trading on Thursday, hitting $9.65. 44,325,033 shares of the company traded hands, compared to its average volume of 33,612,969. 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 business's fifty day moving average is $8.89 and its 200-day moving average is $9.94. The stock has a market capitalization of $23.69 billion, a price-to-earnings ratio of -2.11, a PEG ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced 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 net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the prior year, the company earned ($0.40) EPS. The business's quarterly revenue was down 9.8% on a year-over-year basis. As a group, equities analysts predict that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup cut their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Barclays upped their price target on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Raymond James decreased their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. KeyCorp lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Barrington Research reiterated an "outperform" rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.17.

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.