Silver Ring Value Partners, an investment management company, released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. The strategy returned -23.5% (net) in the last 12 months compared to a 29.3% return for the Russell 3000 Index and 25.7% for the MSCI World Index during the same period. You can check the top 5 holdings of the fund to know its best picks in 2024.
Silver Ring Value Partners featured stocks like Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the first quarter 2024 investor letter. Incorporated in 2008, Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a media and entertainment company. On May 17, 2024, Warner Bros. Discovery, Inc. (NASDAQ:WBD) stock closed at $8.06 per share. One-month return of Warner Bros. Discovery, Inc. (NASDAQ:WBD) was -4.96%, and its shares lost 33.80% of their value over the last 52 weeks. Warner Bros. Discovery, Inc. (NASDAQ:WBD) has a market capitalization of $19.749 billion.
Silver Ring Value Partners stated the following regarding Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its first quarter 2024 investor letter:
“Warner Bros. Discovery, Inc. (NASDAQ:WBD) is one of the most hated companies out there. I haven’t met many people familiar with it who haven’t mentioned something negative about the business or the CEO.
The negative sentiment isn’t unwarranted. The company did a large deal and promptly missed profitability targets. The secular pressure on its core cable networks business has been greater than anticipated and its fledgling streaming operation is far from reaching its long-term goals. In short, perhaps people feel badly about WBD because things are bad.
However, my experience has taught me that whenever you have an important business with unique and difficult to replicate assets, it’s important to not let pessimism overwhelm cold-blooded analysis. I have missed several opportunities in the past because I was too focused on legitimate negatives affecting the company and didn’t give enough weight to the parts of the business giving these companies value in excess of the market price…” (Click here to read the full text)
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Warner Bros. Discovery, Inc. (NASDAQ:WBD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held Warner Bros. Discovery, Inc. (NASDAQ:WBD) at the end of the fourth quarter which was 63 in the previous quarter.
In another article, we discussed Warner Bros. Discovery, Inc. (NASDAQ:WBD) and shared the list of most promising stocks to buy before they take off. The average price target of Warner Bros. Discovery, Inc. (NASDAQ:WBD) is $13.61 according to 9 Wall Street analysts’ ratings. In addition, please check out our hedge fund investor letters Q1 2024 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.
