RNC Capital Management LLC Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

RNC Capital Management LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 22.4% during the fourth quarter, HoldingsChannel reports. The firm owned 282,078 shares of the company’s stock after selling 81,524 shares during the period. RNC Capital Management LLC’s holdings in Warner Bros. Discovery were worth $2,982,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery in the fourth quarter valued at $33,000. New Wave Wealth Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $37,000. Future Financial Wealth Managment LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $41,000. Larson Financial Group LLC raised its position in Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after buying an additional 3,743 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WBD shares. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Raymond James increased their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Rosenblatt Securities raised their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.76.

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 company insiders.

Warner Bros. Discovery Trading Up 0.1 %

NASDAQ:WBD opened at $10.20 on Friday. The stock’s 50 day moving average price is $10.46 and its 200 day moving average price is $8.96. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) EPS. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.