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

The Walt Disney Company (NYSE:DIS) 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DIS shares. Barclays decreased their target price on shares of Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Seaport Res Ptn raised shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. UBS Group cut their price target on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Piper Sandler began coverage on shares of Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and an average target price of $119.14.

Walt Disney Stock Performance

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 capitalization of $200.06 billion, a P/E ratio of 43.52, a P/E/G ratio of 1.64 and a beta of 1.40. The business’s fifty day simple moving average is $94.62 and its 200-day simple moving average is $96.69.

Institutional Trading of Walt Disney

Institutional investors and hedge funds have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its stake 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 worth $6,420,000 after buying an additional 5,184 shares in the last quarter. Summit Global Investments boosted its stake in shares of Walt Disney by 476.0% during the 3rd 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 stake in shares of Walt Disney by 18.6% during the 3rd 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 during the period. American Assets Inc. purchased a new position in shares of Walt Disney during the 3rd quarter worth about $962,000. Finally, ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Walt Disney by 92.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 92,938 shares of the entertainment giant’s stock worth $8,940,000 after purchasing an additional 44,535 shares during the period. 65.71% of the stock is currently owned by institutional investors.

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.