Warner Bros. Discovery, Inc. (NASDAQ:WBD) Short Interest Down 17.6% in August
Warner Bros. Discovery, Inc. (NASDAQ:WBD) experienced a 17.6% decrease in short interest in August, with total short interest at 114,380,000 shares as of August 31. This represents approximately 5.2% of the company's stock. The short-interest ratio is currently 3.7 days based on an average trading volume of 31,110,000 shares. Analysts have mixed ratings on the stock, with an average rating of "Hold" and a price target of $12.93. The company reported a quarterly EPS of -$0.07, missing estimates, and had a revenue decline of 6.2% year-over-year.
Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 114,380,000 shares, a decrease of 17.6% from the August 15th total of 138,800,000 shares. Currently, 5.2% of the shares of the stock are short sold. Based on an average daily volume of 31,110,000 shares, the short-interest ratio is currently 3.7 days.
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WBD has been the topic of a number of research analyst reports. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. Morgan Stanley decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, July 29th. Sanford C. Bernstein cut Warner Bros. Discovery from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Wells Fargo & Company lowered their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Thursday, August 8th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.93.
Read Our Latest Analysis on WBD
Warner Bros. Discovery Stock Performance
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Shares of WBD opened at $8.49 on Friday. Warner Bros. Discovery has a one year low of $6.64 and a one year high of $12.70. The company has a market cap of $20.82 billion, a PE ratio of -6.85 and a beta of 1.48. The stock has a 50-day moving average of $7.75 and a 200-day moving average of $7.98. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period last year, the business posted ($0.51) EPS. The company's revenue was down 6.2% on a year-over-year basis. On average, equities research analysts predict that Warner Bros. Discovery will post -4.17 EPS for the current fiscal year.
Institutional Trading of Warner Bros. Discovery
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Family Firm Inc. acquired a new position in shares of Warner Bros. Discovery during the second quarter valued at about $26,000. Crewe Advisors LLC bought a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $27,000. OFI Invest Asset Management lifted its holdings in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company's stock valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. First Financial Corp IN raised its position in Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company's stock valued at $30,000 after buying an additional 2,887 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in Warner Bros. Discovery during the 4th quarter worth $33,000. Institutional investors own 59.95% of the company's stock.
About Warner Bros. Discovery
(Get Free Report)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.
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