Traders Purchase Large Volume of Warner Bros. Discovery Put Options (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) saw some unusual options trading on Monday. Stock traders acquired 72,338 put options on the company. This is an increase of approximately 48% compared to the average volume of 48,825 put options.

Institutional Investors Weigh In On Warner Bros. Discovery

A number of hedge funds have recently bought and sold shares of WBD. Aspire Private Capital LLC raised its position in shares of Warner Bros. Discovery by 33.2% during the fourth quarter. Aspire Private Capital LLC now owns 2,823 shares of the company's stock valued at $26,762,040,000 after buying an additional 704 shares during the last quarter. Park Place Capital Corp raised its position in shares of Warner Bros. Discovery by 33.4% during the third quarter. Park Place Capital Corp now owns 3,677 shares of the company's stock valued at $40,000 after buying an additional 921 shares during the last quarter. Forum Financial Management LP raised its position in shares of Warner Bros. Discovery by 2.3% during the third quarter. Forum Financial Management LP now owns 42,179 shares of the company's stock valued at $458,000 after buying an additional 948 shares during the last quarter. Bridgeworth LLC raised its position in shares of Warner Bros. Discovery by 7.4% during the fourth quarter. Bridgeworth LLC now owns 13,845 shares of the company's stock valued at $158,000 after buying an additional 952 shares during the last quarter. Finally, Czech National Bank raised its position in shares of Warner Bros. Discovery by 0.3% during the fourth quarter. Czech National Bank now owns 388,660 shares of the company's stock valued at $4,423,000 after buying an additional 996 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 0.2 %

NASDAQ:WBD traded up $0.02 during trading hours on Monday, reaching $8.36. The company's stock had a trading volume of 27,253,529 shares, compared to its average volume of 26,795,188. The company has a market cap of $20.40 billion, a price-to-earnings ratio of -6.53 and a beta of 1.51. Warner Bros. Discovery has a one year low of $8.02 and a one year high of $14.76. The business's 50-day moving average is $8.89 and its 200-day moving average is $10.10. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The firm had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm's revenue was down 6.6% on a year-over-year basis. Equities research analysts predict that Warner Bros. Discovery will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on WBD. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a "sell" rating to a "neutral" rating and raised their price objective for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. Barrington Research lowered their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, February 26th. Citigroup lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Benchmark restated a "buy" rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Finally, Redburn Atlantic lowered shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating and set a $11.00 price target on the stock. in a research report on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.24.

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.