Synovus Financial Corp Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Synovus Financial Corp raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 69,192 shares of the company’s stock after acquiring an additional 10,199 shares during the period. Synovus Financial Corp’s holdings in Warner Bros. Discovery were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of WBD. Commerce Bank lifted its holdings in shares of Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after buying an additional 1,286 shares during the period. GAM Holding AG lifted its holdings in shares of Warner Bros. Discovery by 0.3% in the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after buying an additional 1,437 shares during the period. Waldron Private Wealth LLC lifted its holdings in shares of Warner Bros. Discovery by 5.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after buying an additional 1,461 shares during the period. PFG Investments LLC lifted its holdings in shares of Warner Bros. Discovery by 1.4% in the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after buying an additional 1,517 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Warner Bros. Discovery by 13.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after buying an additional 1,565 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

WBD stock opened at $11.35 on Wednesday. The stock has a 50-day moving average price of $9.19 and a two-hundred day moving average price of $8.27. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $27.84 billion, a PE ratio of -2.48 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery 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 transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Guggenheim lifted their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Bank of America reaffirmed a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Friday, December 13th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $11.33.

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.