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

RNC Capital Management LLC cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) by 23.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,433 shares of the company’s stock after selling 46,953 shares during the quarter. RNC Capital Management LLC’s holdings in Warner Bros. Discovery were worth $1,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boyar Asset Management Inc. purchased a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth about $1,370,000. Bessemer Group Inc. purchased a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth about $385,000. SG Americas Securities LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $2,938,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $67,859,000. Finally, Vontobel Holding Ltd. purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $1,073,000. 55.18% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded up $0.18 during trading on Friday, hitting $14.34. The company’s stock had a trading volume of 32,003,231 shares, compared to its average volume of 21,522,535. The company has a 50-day moving average of $14.46 and a 200-day moving average of $12.56. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $27.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $34.85 billion, a price-to-earnings ratio of -5.47, a P/E/G ratio of 0.97 and a beta of 1.50.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WBD. Wolfe Research raised shares of Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Friday. Rosenblatt Securities increased their price objective on shares of Warner Bros. Discovery from $9.00 to $11.00 and gave the company a “sell” rating in a research report on Friday, February 24th. Morgan Stanley increased their price objective on shares of Warner Bros. Discovery from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, January 30th. Macquarie increased their price objective on shares of Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, January 31st. Finally, Guggenheim raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 price objective on the stock in a research report on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus price target of $22.31.

Warner Bros. Discovery Profile

(Get Rating)

Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.