Walt Disney (NYSE:DIS) Shares Gap Up – Here’s Why

The Walt Disney Company (NYSE:DIS)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $102.72, but opened at $110.33. Walt Disney shares last traded at $113.39, with a volume of 15,668,582 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a report on Friday. Macquarie boosted their price target on shares of Walt Disney from $91.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price objective on shares of Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday. Loop Capital boosted their target price on Walt Disney from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday. Finally, Seaport Res Ptn raised Walt Disney from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.57.

Walt Disney Stock Up 5.4 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The company has a market cap of $208.67 billion, a P/E ratio of 44.25, a PEG ratio of 1.67 and a beta of 1.40. The firm’s 50-day simple moving average is $95.03 and its 200 day simple moving average is $96.77.

Hedge Funds Weigh In On Walt Disney

Several hedge funds have recently added to or reduced their stakes in DIS. Concurrent Investment Advisors LLC raised its position in shares of Walt Disney by 8.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 66,744 shares of the entertainment giant’s stock valued at $6,420,000 after acquiring an additional 5,184 shares during the period. Summit Global Investments raised its holdings in Walt Disney by 476.0% in the third quarter. Summit Global Investments now owns 12,379 shares of the entertainment giant’s stock worth $1,191,000 after purchasing an additional 10,230 shares during the period. Lmcg Investments LLC boosted its position in shares of Walt Disney by 18.6% during the third quarter. Lmcg Investments LLC now owns 147,353 shares of the entertainment giant’s stock worth $14,174,000 after purchasing an additional 23,116 shares in the last quarter. American Assets Inc. acquired a new position in shares of Walt Disney in the 3rd quarter valued at $962,000. Finally, ICICI Prudential Asset Management Co Ltd increased its position in shares of Walt Disney by 92.0% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 92,938 shares of the entertainment giant’s stock valued at $8,940,000 after buying an additional 44,535 shares in the last quarter. Institutional investors and hedge funds 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.