Investors Buy Large Volume of Call Options on Warner Bros. Discovery (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD) saw unusually large options trading on Thursday. Investors purchased 85,104 call options on the company. This is an increase of 202% compared to the average volume of 28,206 call options.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $10.78 on Friday. The business has a 50 day moving average price of $10.33 and a 200 day moving average price of $9.12. Warner Bros. Discovery has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market cap of $26.45 billion, a price-to-earnings ratio of -2.35, a PEG ratio of 8.52 and a beta of 1.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Insider Transactions at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.

Institutional Trading of Warner Bros. Discovery

Several hedge funds have recently added to or reduced their stakes in the business. Forum Financial Management LP boosted its stake in Warner Bros. Discovery by 201.5% during the 4th quarter. Forum Financial Management LP now owns 43,203 shares of the company’s stock valued at $457,000 after purchasing an additional 28,874 shares during the period. Michels Family Financial LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $497,000. Toronto Dominion Bank raised its holdings in Warner Bros. Discovery by 11.2% in the 4th quarter. Toronto Dominion Bank now owns 1,280,780 shares of the company’s stock valued at $13,538,000 after acquiring an additional 129,237 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $4,914,000. Finally, Neo Ivy Capital Management acquired a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $3,700,000. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the topic of several recent analyst reports. Guggenheim upped their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Bank of America restated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.76.

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.