Will Warner Bros. Discovery (WBD) Have a Bright Future?

O’keefe Stevens Advisory, an investment advisory firm, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. 2022 was a challenging year for the market and portfolios due to interest rate hikes. At the end of 2022, ~37% of the fund’s assets were held by its top 5 holdings. You can check the top 5 holdings to know the fund’s best picks in 2022.

O’keefe Stevens Advisory highlighted stocks like Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the Q4 2022 investor letter. Headquartered in New York, New York, Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a media company. On January 18, 2023, Warner Bros. Discovery, Inc. (NASDAQ:WBD) stock closed at $12.59 per share. One-month return of Warner Bros. Discovery, Inc. (NASDAQ:WBD) was 36.40%, and its shares lost 54.20% of their value over the last 52 weeks. Warner Bros. Discovery, Inc. (NASDAQ:WBD) has a market capitalization of $30.574 billion.

O’keefe Stevens Advisory made the following comment about Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its Q4 2022 investor letter:

“Several positions within the portfolio deserve some reflection; however, the one deserving the most attention is Warner Bros. Discovery, Inc. (NASDAQ:WBD). Not surprisingly, it was one of the worst-performing stocks in our portfolio over the past year.

Warner Brothers Discovery (WBD) – One concept learned from Jeremy Raper at Raper Capital (@Puppyeh1 on Twitter) is “when there’s a massive pivot in biz model and under-delivery vs. clear IPO targets, it’s generally a big red flag.” While WBD is not a recent IPO, it went through a dramatic business model change. I recall two examples of companies that pivoted strategies…” (Click here to read the full text)

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 61 hedge fund portfolios held Warner Bros. Discovery, Inc. (NASDAQ:WBD) at the end of the third quarter, which was 68 in the previous quarter.

We discussed Warner Bros. Discovery, Inc. (NASDAQ:WBD) in another article and shared the cheap value stocks to buy according to Seth Klarman. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.