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

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) saw unusually large options trading activity on Tuesday. Investors purchased 47,865 call options on the stock. This is an increase of approximately 41% compared to the typical daily volume of 33,901 call options.

Institutional Investors Weigh In On Warner Bros. Discovery

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth about $362,210,000. Contrarius Group Holdings Ltd acquired a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $168,930,000. Independent Franchise Partners LLP bought a new position in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $140,224,000. FMR LLC boosted its position in Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after purchasing an additional 11,810,191 shares during the period. Finally, Nuveen LLC acquired a new position in Warner Bros. Discovery in the 1st quarter valued at $96,971,000. Institutional investors own 59.95% of the company's stock.

Analyst Ratings Changes

WBD has been the subject of several recent research reports. Raymond James Financial cut their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Barclays increased their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Morgan Stanley decreased their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.33.

Warner Bros. Discovery Stock Up 0.8%

Shares of NASDAQ WBD traded up $0.09 during mid-day trading on Friday, reaching $11.21. The company had a trading volume of 24,154,256 shares, compared to its average volume of 36,327,678. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The stock's 50 day moving average is $9.74 and its 200-day moving average is $9.94. The stock has a market capitalization of $27.51 billion, a PE ratio of -2.55 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter last year, the firm earned ($0.40) EPS. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

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.