Warner Bros. Discovery Sees Unusually Large Options Volume (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD) saw unusually large options trading activity on Thursday. Stock traders bought 102,840 call options on the company. This is an increase of 145% compared to the average daily volume of 41,960 call options.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Macquarie raised their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Finally, Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.33.

Warner Bros. Discovery Trading Down 3.4 %

Shares of NASDAQ WBD opened at $12.07 on Friday. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a market cap of $29.61 billion, a PE ratio of -2.64 and a beta of 1.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $9.11 and a two-hundred day moving average of $8.24.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping 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 company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Warner Bros. Discovery will post -4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Bros. Discovery

Several institutional investors have recently modified their holdings of the business. OFI Invest Asset Management grew its position in shares of Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares during the period. Commerce Bank grew its position in shares of Warner Bros. Discovery by 2.4% during the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after buying an additional 1,286 shares during the period. GAM Holding AG grew its position in shares of Warner Bros. Discovery by 0.3% during the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after buying an additional 1,437 shares during the period. Waldron Private Wealth LLC grew its position in shares of Warner Bros. Discovery by 5.4% during the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after buying an additional 1,461 shares during the period. Finally, PFG Investments LLC grew its position in shares of Warner Bros. Discovery by 1.4% during the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after buying an additional 1,517 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Company Profile

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.