Warner Bros. Discovery Target of Unusually High Options Trading (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the recipient of some unusual options trading activity on Thursday. Investors bought 102,840 call options on the company. This is an increase of 145% compared to the average volume of 41,960 call options.

Wall Street Analyst Weigh In

WBD has been the subject of several recent research reports. Barclays increased their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Guggenheim lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.95.

Institutional Trading of Warner Bros. Discovery

Hedge funds have recently modified their holdings of the company. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery in the second quarter worth about $26,000. OFI Invest Asset Management increased its position in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth $41,000. Larson Financial Group LLC lifted its position in Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Quarry LP increased its holdings in Warner Bros. Discovery by 2,185.1% during the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after purchasing an additional 6,031 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $12.49 on Friday. The business’s 50-day simple moving average is $9.02 and its 200 day simple moving average is $8.21. 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 stock has a market cap of $30.64 billion, a price-to-earnings ratio of -2.73 and a beta of 1.51. Warner Bros. Discovery has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the firm earned ($0.17) earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts anticipate that Warner Bros. Discovery will post -4.37 earnings per share for the current 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.