ThornTree Capital Partners LP Buys New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ThornTree Capital Partners LP acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,078,165 shares of the company's stock, valued at approximately $21,966,000. Warner Bros. Discovery accounts for about 2.9% of ThornTree Capital Partners LP's investment portfolio, making the stock its 11th largest position. ThornTree Capital Partners LP owned approximately 0.08% of Warner Bros. Discovery as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WBD. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after buying an additional 996 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after acquiring an additional 1,940 shares during the last quarter. Graney & King LLC purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $28,000. Finally, Ethos Financial Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $29,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WBD. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their target price for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Morgan Stanley decreased their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Barclays boosted their target price on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and an average price target of $12.22.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded up $0.18 during midday trading on Tuesday, reaching $9.23. 38,315,461 shares of the company traded hands, compared to its average volume of 33,308,823. The firm has a market capitalization of $22.66 billion, a price-to-earnings ratio of -2.02, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The company has a fifty day moving average price of $9.14 and a 200 day moving average price of $9.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period last year, the firm posted ($0.40) EPS. The business's revenue was down 9.8% compared to the same quarter last year. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.