The Walt Disney Company (NYSE:DIS) Sees Significant Drop in Short Interest

The Walt Disney Company (NYSE:DIS) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 21,750,000 shares, a decline of 5.3% from the August 31st total of 22,960,000 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 10,770,000 shares, the days-to-cover ratio is currently 2.0 days.

Walt Disney Price Performance

NYSE DIS traded up $0.17 during trading hours on Monday, reaching $96.18. 7,982,577 shares of the stock traded hands, compared to its average volume of 11,191,426. The stock has a 50 day simple moving average of $90.44 and a two-hundred day simple moving average of $101.11. Walt Disney has a 1 year low of $78.73 and a 1 year high of $123.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.66. The company has a market cap of $175.34 billion, a price-to-earnings ratio of 104.54, a price-to-earnings-growth ratio of 1.53 and a beta of 1.40.

Walt Disney (NYSE:DIS) last released its 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 return on equity of 8.64% and a net margin of 5.30%. The company had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.08 billion. During the same quarter in the previous year, the company posted $1.03 EPS. Walt Disney’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that Walt Disney will post 4.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DIS has been the subject of several recent analyst reports. Macquarie decreased their price objective on shares of Walt Disney from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, September 19th. The Goldman Sachs Group began coverage on Walt Disney in a research note on Tuesday, June 25th. They set a “buy” rating and a $125.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of Walt Disney in a research note on Thursday. Evercore ISI reduced their price objective on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley reduced their price objective on shares of Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Walt Disney presently has an average rating of “Moderate Buy” and an average price target of $118.43.

Insiders Place Their Bets

In other Walt Disney news, Director Calvin Mcdonald bought 11,756 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $85.06 per share, for a total transaction of $999,965.36. Following the transaction, the director now directly owns 22,313 shares in the company, valued at $1,897,943.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Walt Disney

Institutional investors and hedge funds have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Walt Disney by 84.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,000,267 shares of the entertainment giant’s stock worth $244,754,000 after buying an additional 916,772 shares during the period. Jennison Associates LLC purchased a new position in Walt Disney in the 1st quarter worth approximately $1,490,492,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Walt Disney by 4.2% in 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 purchasing an additional 22,568 shares during the last quarter. Rheos Capital Works Inc. boosted its stake in shares of Walt Disney by 41.3% during the first quarter. Rheos Capital Works Inc. now owns 175,900 shares of the entertainment giant’s stock valued at $21,523,000 after purchasing an additional 51,400 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Walt Disney by 555.9% in the first quarter. Nordea Investment Management AB now owns 956,788 shares of the entertainment giant’s stock worth $117,599,000 after purchasing an additional 810,923 shares during the last quarter. Institutional investors own 65.71% of the company’s stock.

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.