Alight Capital Management LP Sells 42,500 Shares of The Walt Disney Company (NYSE:DIS)

Alight Capital Management LP cut its holdings in shares of The Walt Disney Company (NYSE:DIS) by 45.9% in the second quarter, Holdings Channel reports. The institutional investor owned 50,000 shares of the entertainment giant’s stock after selling 42,500 shares during the quarter. Walt Disney accounts for about 1.2% of Alight Capital Management LP’s portfolio, making the stock its 29th biggest holding. Alight Capital Management LP’s holdings in Walt Disney were worth $4,964,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. grew its position in Walt Disney by 84.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,000,267 shares of the entertainment giant’s stock worth $244,754,000 after purchasing an additional 916,772 shares during the last quarter. Jennison Associates LLC acquired a new stake in Walt Disney during the first quarter worth about $1,490,492,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Walt Disney by 4.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 556,658 shares of the entertainment giant’s stock valued at $68,113,000 after acquiring an additional 22,568 shares during the period. Rheos Capital Works Inc. raised its holdings in Walt Disney by 41.3% in the 1st quarter. Rheos Capital Works Inc. now owns 175,900 shares of the entertainment giant’s stock valued at $21,523,000 after acquiring an additional 51,400 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Walt Disney by 555.9% in the 1st quarter. Nordea Investment Management AB now owns 956,788 shares of the entertainment giant’s stock worth $117,599,000 after acquiring an additional 810,923 shares during the period. 65.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Calvin Mcdonald bought 11,756 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $85.06 per share, with a total value of $999,965.36. Following the completion of the purchase, the director now owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DIS shares. JPMorgan Chase & Co. decreased their price target on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Moffett Nathanson decreased their price objective on Walt Disney from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on Walt Disney in a research report on Tuesday, June 25th. They set a “buy” rating and a $125.00 target price for the company. Evercore ISI lowered their price target on Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley cut their price objective on Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.43.

Walt Disney Stock Performance

Shares of NYSE:DIS opened at $93.74 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.38. The Walt Disney Company has a 1-year low of $78.73 and a 1-year high of $123.74. The stock has a market capitalization of $170.01 billion, a P/E ratio of 101.89, a P/E/G ratio of 1.53 and a beta of 1.40. The business has a 50-day moving average price of $90.49 and a two-hundred day moving average price of $101.59.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. The business had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.08 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. Walt Disney’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts predict that The Walt Disney Company will post 4.92 earnings per share for the current year.

Walt Disney Company Profile

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.