Traynor Capital Management Inc. Reduces Holdings in The Walt Disney Company (NYSE:DIS)

Traynor Capital Management Inc. lowered its stake in shares of The Walt Disney Company (NYSE:DIS) by 10.9% in the first quarter, HoldingsChannel.com reports. The firm owned 2,646 shares of the entertainment giant’s stock after selling 324 shares during the period. Traynor Capital Management Inc.’s holdings in Walt Disney were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Planned Solutions Inc. purchased a new position in shares of Walt Disney in the 4th quarter valued at $26,000. Gold Investment Management Ltd. acquired a new position in Walt Disney during the fourth quarter worth about $28,000. Fortis Group Advisors LLC acquired a new position in Walt Disney during the third quarter worth about $30,000. Stone House Investment Management LLC raised its position in shares of Walt Disney by 355.3% in the fourth quarter. Stone House Investment Management LLC now owns 346 shares of the entertainment giant’s stock valued at $31,000 after buying an additional 270 shares during the last quarter. Finally, Partnership Wealth Management LLC acquired a new position in shares of Walt Disney in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Trading Down 0.3 %

Shares of DIS stock opened at $101.98 on Tuesday. The Walt Disney Company has a 12-month low of $78.73 and a 12-month high of $123.74. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $105.68 and its 200-day moving average price is $104.49. The stock has a market capitalization of $185.91 billion, a price-to-earnings ratio of 110.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.40.

Walt Disney (NYSE:DIS) last announced its earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The business had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.12 billion. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. Equities research analysts predict that The Walt Disney Company will post 4.75 EPS for the current fiscal year.

Insider Transactions at Walt Disney

In related news, EVP Sonia L. Coleman sold 1,857 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $121.92, for a total value of $226,405.44. Following the transaction, the executive vice president now directly owns 4,400 shares of the company’s stock, valued at approximately $536,448. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Sonia L. Coleman sold 1,857 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the sale, the executive vice president now directly owns 4,400 shares of the company’s stock, valued at approximately $536,448. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James P. Gorman purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average cost of $106.03 per share, for a total transaction of $2,120,600.00. Following the completion of the purchase, the director now directly owns 20,467 shares in the company, valued at approximately $2,170,116.01. The disclosure for this purchase can be found here. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

DIS has been the subject of a number of recent analyst reports. Loop Capital boosted their target price on shares of Walt Disney from $113.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 6th. Morgan Stanley increased their target price on shares of Walt Disney from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Rosenblatt Securities increased their target price on shares of Walt Disney from $129.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Walt Disney in a research report on Tuesday, May 7th. Finally, Daiwa Capital Markets reiterated a “buy” rating and issued a $133.00 target price on shares of Walt Disney in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Walt Disney has a consensus rating of “Moderate Buy” and an average target price of $126.29.

About Walt Disney

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.