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

17 Apr 2026, 11:36 by Scott Moore · The Cerbat Gem

Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 59,430,740 shares, an increase of 24.5% from the March 15th total of 47,733,517 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average trading volume of 30,212,888 shares, the days-to-cover ratio is currently 2.0 days.

Key Warner Bros. Discovery News

Here are the key news stories impacting Warner Bros. Discovery this week:

Positive Sentiment: HBO Max expanded distribution by launching in India via a carriage deal with JioCinema/JioHotstar, opening a very large streaming market and creating a new subscriber and ad-revenue growth channel for WBD in an increasingly important region. Warner Bros Discovery’s HBO Max launches in India on JioHotstar
Neutral Sentiment: WBD set its Q1 2026 earnings date for May 7 (pre-market) — a near-term catalyst that could move the stock depending on subscriber trends, ad revenues and margin guidance. Investors should watch guidance and streaming metrics. Warner Bros. Discovery to Report First Quarter 2026 Results on Thursday, May 7
Neutral Sentiment: Heightened retail/institutional interest: Zacks flagged increased user searches for WBD, reflecting higher investor attention and trading interest that can amplify moves around news or M&A developments. Investors Heavily Search Warner Bros. Discovery, Inc. (WBD): Here is What You Need to Know
Negative Sentiment: Merger uncertainty remains the dominant risk: coverage shows rising regulatory and public pushback to the proposed Paramount Skydance acquisition (including calls for Senate hearings and celebrity criticism), which increases the odds of deal delays, conditions or a rework that could affect any takeover premium or strategic plans. Paramount head David Ellison vows merger with Warner Bros won’t reduce film output
Negative Sentiment: Theater owners and industry voices expect the potential Paramount–WBD tie-up to create disruption and tougher economics for exhibition, signaling stakeholder resistance that could complicate approvals and execution. Paramount-WBD Merger? Theater Owners Expect Even Tougher Times
Negative Sentiment: Multiple opinion pieces and industry commentary (including at CinemaCon and in hearings) highlight reputational and political risks tied to the deal — these public tensions can pressure the stock by increasing regulatory scrutiny and creating execution risk. With worries about WBD acquisition looming, Paramount takes the stage at CinemaCon
Neutral Sentiment: Industry peers’ earnings and M&A commentary (Netflix, Ted Sarandos, etc.) are reshaping investor expectations about content owners’ strategic options — useful context for valuing WBD whether as a standalone operator or takeover target. Netflix “Really Built Our M&A Muscle” During Warner Bros Pursuit, Ted Sarandos Says

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded up $0.09 during midday trading on Friday, reaching $27.48. 5,921,678 shares of the company’s stock traded hands, compared to its average volume of 25,160,158. The company has a market cap of $68.14 billion, a price-to-earnings ratio of 94.74 and a beta of 1.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.06. Warner Bros. Discovery has a one year low of $7.75 and a one year high of $30.00. The stock has a 50 day moving average of $27.77 and a 200 day moving average of $25.76.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.19). The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.20) earnings per share. As a group, equities research analysts anticipate that Warner Bros. Discovery will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Warner Bros. Discovery in a research note on Monday, March 9th. They issued an “equal weight” rating and a $31.00 target price on the stock. Sanford C. Bernstein increased their target price on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research note on Tuesday, February 24th. Morgan Stanley set a $29.00 target price on Warner Bros. Discovery in a research note on Thursday, December 18th. Benchmark reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Finally, Rothschild & Co Redburn set a $31.00 target price on Warner Bros. Discovery and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.30.

Get Our Latest Research Report on WBD

Insider Activity at Warner Bros. Discovery

In related news, Director Paul A. Gould sold 600,000 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.35, for a total value of $16,410,000.00. Following the sale, the director directly owned 244,357 shares of the company’s stock, valued at $6,683,163.95. This represents a 71.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gerhard Zeiler sold 600,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the sale, the insider owned 672,649 shares in the company, valued at approximately $18,847,624.98. This trade represents a 47.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,206,827 shares of company stock valued at $230,674,025 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. JFS Wealth Advisors LLC lifted its holdings in Warner Bros. Discovery by 12.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock valued at $99,000 after acquiring an additional 378 shares during the period. Salomon & Ludwin LLC raised its stake in shares of Warner Bros. Discovery by 20.2% in the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock worth $71,000 after buying an additional 419 shares during the period. CYBER HORNET ETFs LLC raised its stake in shares of Warner Bros. Discovery by 7.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock worth $184,000 after buying an additional 425 shares during the period. Root Financial Partners LLC raised its stake in shares of Warner Bros. Discovery by 17.5% in the fourth quarter. Root Financial Partners LLC now owns 2,879 shares of the company’s stock worth $83,000 after buying an additional 429 shares during the period. Finally, Optas LLC raised its stake in shares of Warner Bros. Discovery by 3.0% in the fourth quarter. Optas LLC now owns 15,120 shares of the company’s stock worth $436,000 after buying an additional 435 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Company Profile

(Get Free Report)

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.