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

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) saw some unusual options trading on Wednesday. Stock traders acquired 53,467 call options on the stock. This is an increase of approximately 93% compared to the typical daily volume of 27,683 call options.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This represents a 12.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors and hedge funds have recently modified their holdings of the business. Colonial Trust Advisors grew its position in shares of Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after purchasing an additional 996 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth approximately $26,000. WPG Advisers LLC bought a new position in Warner Bros. Discovery during the 1st quarter worth $26,000. SRS Capital Advisors Inc. increased its stake in Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after acquiring an additional 1,940 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery in the 1st quarter valued at $27,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded up $0.47 during midday trading on Wednesday, reaching $10.02. 28,490,468 shares of the company's stock were exchanged, compared to its average volume of 33,273,580. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $24.58 billion, a price-to-earnings ratio of -2.18, a P/E/G ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery has a 52 week low of $6.64 and a 52 week high of $12.70. The stock's 50-day simple moving average is $9.00 and its 200 day simple moving average is $9.92.

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). The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company's revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.40) earnings per share. On average, analysts expect that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WBD. Raymond James decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Citigroup lifted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Benchmark reissued a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. KeyCorp dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.22.

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.

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