Investing

Unusual Call Option Trade in Warner Bros. Discovery Worth $360.88K

George Maybach

Published: May 2, 2023 3:39 am

Last Updated: May 2, 2023 12:41 pm

On May 1, 2023 at 14:36:47 ET an unusually large $360.88K block of Call contracts in Warner Bros. Discovery Inc – (WBD) was sold, with a strike price of $15.00 / share, expiring in 263 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 2.58 sigmas above the mean, placing it in the 99.52th percentile of all recent large trades made in WBD options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 2102 funds or institutions reporting positions in Warner Bros. Discovery Inc -. This is a decrease of 127 owner(s) or 5.70% in the last quarter. Average portfolio weight of all funds dedicated to WBD is 0.24%, an increase of 1.84%. Total shares owned by institutions increased in the last three months by 5.75% to 1,572,074K shares. The put/call ratio of WBD is 0.58, indicating a bullish outlook.

Analyst Price Forecast Suggests 56.02% Upside

As of April 24, 2023, the average one-year price target for Warner Bros. Discovery Inc – is $21.23. The forecasts range from a low of $11.11 to a high of $37.80. The average price target represents an increase of 56.02% from its latest reported closing price of $13.61.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Warner Bros. Discovery Inc – is $45,007MM, an increase of 33.09%. The projected annual non-GAAP EPS is $0.10.

What are Other Shareholders Doing?

VBCVX – Systematic Value Fund holds 109K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 145K shares, representing a decrease of 32.85%. The firm increased its portfolio allocation in WBD by 6.68% over the last quarter.

Ameritas Advisory Services holds 12K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 21K shares, representing a decrease of 77.70%. The firm decreased its portfolio allocation in WBD by 8.91% over the last quarter.

Skba Capital Management holds 24K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 511K shares, representing a decrease of 2,053.45%. The firm decreased its portfolio allocation in WBD by 97.50% over the last quarter.

Martin holds 293K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 315K shares, representing a decrease of 7.68%. The firm decreased its portfolio allocation in WBD by 99.93% over the last quarter.

Tcw Strategic Income Fund holds 10K shares representing 0.00% ownership of the company. No change in the last quarter.

Warner Bros. Discovery Background Information
(This description is provided by the company.)

Discovery, Inc. is a global leader in real life entertainment, serving a passionate audience of superfans around the world with content that inspires, informs and entertains. Discovery delivers over 8,000 hours of original programming each year and has category leadership across deeply loved content genres around the world. Available in more than 220 countries and territories and in nearly 50 languages, Discovery is a platform innovator, reaching viewers on all screens, including TV Everywhere products such as the GO portfolio of apps; direct-to-consumer streaming services such as Eurosport Player, Food Network Kitchen and MotorTrend OnDemand; digital-first and social content from Group Nine Media; a landmark natural history and factual content partnership with the BBC; and a strategic alliance with PGA TOUR to create the international home of golf. Discovery’s portfolio of premium brands includes Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, MotorTrend, Animal Planet, Science Channel, and the forthcoming multi-platform JV with Chip and Joanna Gaines, Magnolia, as well as OWN: Oprah Winfrey Network in the U.S., Discovery Kids in Latin America, and Eurosport, the leading provider of locally relevant, premium sports and Home of the Olympic Games across Europe.

See all Warner Bros. Discovery Inc – regulatory filings.

This article originally appeared on Fintel