Synovus Financial Corp Lowers Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Synovus Financial Corp lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 39.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,170 shares of the company’s stock after selling 27,022 shares during the quarter. Synovus Financial Corp’s holdings in Warner Bros. Discovery were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Colonial Trust Advisors boosted its stake in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after buying an additional 996 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Warner Bros. Discovery in the fourth quarter worth $26,000. SRS Capital Advisors Inc. grew its stake in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $28,000. Finally, Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $29,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $8.11 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The stock has a fifty day moving average of $10.08 and a 200 day moving average of $9.74. 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 capitalization of $19.91 billion, a price-to-earnings ratio of -1.77, a P/E/G ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WBD shares. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, KeyCorp lowered their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery 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.