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

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

Analyst Ratings Changes

Several brokerages recently commented on WBD. Raymond James upped their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group upped their price target on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Monday, October 7th. Guggenheim upped their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, KeyCorp upped their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday. Twelve investment 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, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average target price of $11.33.

Warner Bros. Discovery Stock Down 3.4 %

Warner Bros. Discovery stock opened at $12.07 on Friday. The company has a market capitalization of $29.61 billion, a P/E ratio of -2.64 and a beta of 1.52. The firm’s fifty day simple moving average is $9.11 and its 200-day simple moving average is $8.24. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating 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 net margin of 28.34% and a negative return on equity of 27.56%. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. Sell-side analysts forecast that Warner Bros. Discovery will post -4.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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