ThornTree Capital Partners LP Has $19.24 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• ThornTree Capital Partners LP reduced its stake in Warner Bros. Discovery by 13.7%, selling 285,445 shares and maintaining a portfolio representation of approximately 4.2% in the company.
• Insider transactions saw Director Anton J. Levy acquiring 250,000 shares of Warner Bros. Discovery, indicating a strong confidence in the company's potential with a 40.06% increase in his ownership.
• Warner Bros. Discovery reported a net profit of $0.63 EPS for the last quarter, surpassing estimates and showing a revenue increase of 1.0% year-over-year, amidst various updates from brokerages on stock performance ratings.

ThornTree Capital Partners LP decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,792,720 shares of the company's stock after selling 285,445 shares during the period. Warner Bros. Discovery comprises about 4.2% of ThornTree Capital Partners LP's holdings, making the stock its 14th largest holding. ThornTree Capital Partners LP owned about 0.07% of Warner Bros. Discovery worth $19,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in WBD. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new stake in Warner Bros. Discovery during the 1st quarter worth $27,000. North Capital Inc. acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $29,000. Finally, Ameriflex Group Inc. bought a new position in Warner Bros. Discovery in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Trading Up 2.3%

WBD traded up $0.28 during trading on Wednesday, reaching $12.54. 59,340,696 shares of the stock traded hands, compared to its average volume of 47,311,109. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock's 50-day moving average is $12.12 and its 200 day moving average is $10.55. Warner Bros. Discovery, Inc. has a 12 month low of $6.78 and a 12 month high of $13.86. The stock has a market capitalization of $31.05 billion, a PE ratio of 41.80, a P/E/G ratio of 1.65 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the business earned ($4.07) EPS. The firm's revenue was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity

In related news, Director Anton J. Levy acquired 250,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares in the company, valued at $9,526,600. This represents a 40.06% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Raymond James Financial cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Citigroup reduced their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, KeyCorp lowered their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $13.14.

About Warner Bros. Discovery

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.