Warner Bros. Discovery Target of Unusually High Options Trading (NASDAQ:WBD)

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) saw some unusual options trading on Thursday. Traders acquired 85,104 call options on the company. This is an increase of approximately 202% compared to the typical daily volume of 28,206 call options.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WBD shares. KeyCorp upped their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Rosenblatt Securities raised their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Guggenheim boosted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Thursday, December 12th. Finally, Raymond James increased their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.76.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Warner Bros. Discovery

A number of hedge funds and other institutional investors have recently modified their holdings of WBD. Principal Financial Group Inc. increased its position in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock worth $21,281,000 after purchasing an additional 78,653 shares during the last quarter. Hauser Brothers GmbH grew its stake in shares of Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company's stock valued at $10,106,000 after buying an additional 440,000 shares in the last quarter. Private Management Group Inc. increased its holdings in Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company's stock worth $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Warner Bros. Discovery during the third quarter worth $1,474,000. Finally, Blueshift Asset Management LLC acquired a new stake in Warner Bros. Discovery in the third quarter valued at $588,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Down 2.4 %

WBD stock traded down $0.26 during midday trading on Friday, hitting $10.78. The company's stock had a trading volume of 35,870,318 shares, compared to its average volume of 26,655,080. The company's fifty day moving average price is $10.33 and its 200 day moving average price is $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 debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $26.45 billion, a P/E ratio of -2.35, a PEG ratio of 8.52 and a beta of 1.49.

About Warner Bros. Discovery

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.