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

Warner Bros. Discovery, Inc. (NASDAQ:WBD) saw unusually large options trading on Thursday. Traders purchased 85,104 call options on the stock. This is an increase of 202% compared to the average volume of 28,206 call options.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Trading of Warner Bros. Discovery

Several institutional investors have recently made changes to their positions in WBD. Golden State Equity Partners raised its holdings in shares of Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after acquiring an additional 986 shares in the last quarter. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after buying an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after buying an additional 1,101 shares during the period. Finally, Personal CFO Solutions LLC grew its stake in Warner Bros. Discovery by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock worth $454,000 after acquiring an additional 1,174 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Raymond James raised their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. KeyCorp raised their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Guggenheim boosted their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Rosenblatt Securities boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Trading Up 1.4 %

Shares of WBD stock opened at $11.04 on Friday. The stock has a fifty day simple moving average of $10.36 and a two-hundred day simple moving average of $9.10. Warner Bros. Discovery has a 52-week low of $6.64 and a 52-week high of $12.70. The firm has a market capitalization of $27.08 billion, a PE ratio of -2.41, a PEG ratio of 8.31 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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.