Investors Purchase 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 company. This represents an increase of 41% compared to the average volume of 33,901 call options.

Institutional Investors Weigh In On Warner Bros. Discovery

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Warner Bros. Discovery by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company's stock worth $2,755,679,000 after purchasing an additional 4,169,240 shares during the period. Geode Capital Management LLC raised its position in Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after buying an additional 1,991,441 shares during the last quarter. Invesco Ltd. raised its position in Warner Bros. Discovery by 2.1% in the 1st quarter. Invesco Ltd. now owns 43,341,297 shares of the company's stock valued at $465,052,000 after buying an additional 873,869 shares during the last quarter. Norges Bank bought a new stake in Warner Bros. Discovery in the 4th quarter valued at approximately $362,210,000. Finally, Sessa Capital IM L.P. boosted its position in Warner Bros. Discovery by 4.0% during the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company's stock worth $317,128,000 after acquiring an additional 1,144,849 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WBD. Barclays raised their price target on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Rosenblatt Securities reissued a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Citigroup decreased their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, Raymond James Financial lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.28.

Warner Bros. Discovery Trading Up 0.6%

NASDAQ:WBD traded up $0.07 on Wednesday, reaching $11.01. The company's stock had a trading volume of 2,929,552 shares, compared to its average volume of 41,407,574. Warner Bros. Discovery has a 1-year low of $6.64 and a 1-year high of $12.70. The business's 50-day moving average price is $9.63 and its two-hundred day moving average price is $9.93. The firm has a market cap of $27.02 billion, a PE ratio of -2.50 and a beta of 1.54. 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 (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. Warner Bros. Discovery's revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research 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.