Stock Traders Buy High Volume of Call Options on Warner Bros. Discovery (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD) saw some unusual options trading on Thursday. Stock investors bought 58,442 call options on the company. This is an increase of 31% compared to the average volume of 44,598 call options.

Warner Bros. Discovery Stock Down 2.0 %

Shares of Warner Bros. Discovery stock opened at $9.18 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 debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s 50-day moving average is $7.90 and its 200 day moving average is $7.84. The firm has a market cap of $22.51 billion, a price-to-earnings ratio of -1.91 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly 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. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. Equities research analysts anticipate that Warner Bros. Discovery will post -4.51 EPS for the current year.

Institutional Trading of Warner Bros. Discovery

Institutional investors and hedge funds have recently modified their holdings of the business. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery in the first quarter worth $27,000. Family Firm Inc. purchased a new stake in Warner Bros. Discovery during the second quarter valued at about $26,000. OFI Invest Asset Management raised its position in Warner Bros. Discovery by 45.9% during 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. Transcendent Capital Group LLC increased its holdings in shares of Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after buying an additional 3,480 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Warner Bros. Discovery in the first quarter worth about $39,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WBD shares. Deutsche Bank Aktiengesellschaft lowered their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Raymond James lifted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus target price of $10.55.

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.