RNC Capital Management LLC Sells 81,524 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

RNC Capital Management LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 282,078 shares of the company's stock after selling 81,524 shares during the quarter. RNC Capital Management LLC's holdings in Warner Bros. Discovery were worth $2,982,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Golden State Equity Partners increased its holdings in Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock valued at $170,000 after buying an additional 986 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in shares of Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock valued at $169,000 after purchasing an additional 1,101 shares in the last quarter. Commerce Bank increased its stake 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 purchasing an additional 1,286 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Warner Bros. Discovery by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company's stock worth $1,939,000 after buying an additional 1,387 shares in the last quarter. Finally, GAM Holding AG lifted its position in shares of Warner Bros. Discovery by 0.3% during the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company's stock worth $3,776,000 after buying an additional 1,437 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Insider Activity at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Trading Down 1.7 %

Shares of Warner Bros. Discovery stock traded down $0.18 on Monday, reaching $9.99. 13,413,786 shares of the company's stock were exchanged, compared to its average volume of 25,545,443. The firm's 50-day moving average is $10.45 and its two-hundred day moving average is $8.99. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market capitalization of $24.49 billion, a P/E ratio of -2.18, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. 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 - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. 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 $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the company posted ($0.17) EPS. The firm's revenue was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of research reports. Barrington Research reissued an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. Wolfe Research upgraded shares of Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research report on Monday, November 11th. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Finally, KeyCorp lifted their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company 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.