RNC Capital Management LLC Has $2.97 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

RNC Capital Management LLC cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 260,552 shares of the company’s stock after selling 88,003 shares during the period. RNC Capital Management LLC’s holdings in Warner Bros. Discovery were worth $2,965,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Schechter Investment Advisors LLC raised its holdings in Warner Bros. Discovery by 47.4% in the fourth quarter. Schechter Investment Advisors LLC now owns 25,178 shares of the company’s stock worth $287,000 after purchasing an additional 8,093 shares during the period. Harbor Island Capital LLC raised its holdings in shares of Warner Bros. Discovery by 9.6% during the fourth quarter. Harbor Island Capital LLC now owns 746,270 shares of the company’s stock worth $8,493,000 after acquiring an additional 65,057 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Warner Bros. Discovery by 4.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after acquiring an additional 36,405 shares during the period. Douglas Lane & Associates LLC raised its holdings in shares of Warner Bros. Discovery by 2.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 1,094,547 shares of the company’s stock worth $12,456,000 after acquiring an additional 28,286 shares during the period. Finally, Sendero Wealth Management LLC raised its holdings in shares of Warner Bros. Discovery by 9.4% during the fourth quarter. Sendero Wealth Management LLC now owns 214,657 shares of the company’s stock worth $2,443,000 after acquiring an additional 18,366 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of research analyst reports. Barrington Research dropped their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Thursday, January 11th. Benchmark reiterated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Citigroup lowered their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, Barclays lowered their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.24.

Warner Bros. Discovery Stock Up 3.1 %

Shares of WBD opened at $8.64 on Thursday. Warner Bros. Discovery, Inc. has a 52 week low of $8.02 and a 52 week high of $15.56. The firm has a market cap of $21.08 billion, a P/E ratio of -6.75 and a beta of 1.51. The firm’s 50-day simple moving average is $9.37 and its 200 day simple moving average is $10.36. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the company posted $0.42 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -0.34 earnings per share for the current year.

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.