Walt Disney Co (DIS) Stock Tumbles After ESPN Memberships Fall by 3 Million

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Walt Disney Co (NYSE:DIS) announced that it has seen it’s membership to its sports network, ESPN fall by approximately 3 million members in the past year alone. This brings the total membership down to 92 million subscribers, approximately the same place it stood 10 years ago.

The stock is down 3.25% or $3.86 after the negative news, hitting $114.81 per share. About 4.35M shares traded hands. DIS has risen 8.34% since April 24, 2015 and is uptrending. It has outperformed by 9.47% the S&P500.

Out of 19 analysts covering The Walt Disney Company (NYSE:DIS), 11 rate it “Buy”, 0 “Sell”, while 8 “Hold”. This means 58% are positive. $136 is the highest target while $10.55 is the lowest. The $119.96 average target is 4.49% above today’s ($114.81) stock price. The Walt Disney Company was the topic in 36 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Topeka Capital Markets maintained the stock on November 19 with “Buy” rating. Pivotal Research initiated it with “Hold” rating and $106 target price in an October 20 report. Credit Suisse maintained the shares of DIS in a report on November 10 with “Outperform” rating. Macquarie Research maintained the firm’s rating on September 1. Macquarie Research has “Outperform” rating and $122 price target. Finally, FBR Capital maintained the stock with “Outperform” rating in a November 6 report.

The institutional sentiment increased to 1.18 in Q2 2015. Its up 0.13, from 1.05 in 2015Q1. The ratio increased, as 48 funds sold all Walt Disney Co shares owned while 603 reduced positions. 128 funds bought stakes while 638 increased positions. They now own 1.03 billion shares or 12.16% less from 1.17 billion shares in 2015Q1.

Bank Pictet & Cie (Asia) Ltd holds 26.14% of its portfolio in Walt Disney Co for 67,520 shares. Arrowgrass Capital Partners Llp owns 200,494 shares or 18.37% of their US portfolio. Moreover, Rit Capital Partners Plc has 13.54% invested in the company for 509,000 shares. The United Kingdom-based Lindsell Train Ltd has invested 11.76% in the stock. Klingenstein Fields & Co Llc, a New York-based fund reported 2.21 million shares.

Since March 6, 2015, the stock had 0 buys, and 9 sales for $21.20 million net activity. Chen John S sold 6,000 shares worth $611,822. Braverman Alan N sold 18,473 shares worth $2.19 million. Woodford Brent sold 2,000 shares worth $237,000. Matschullat Robert W sold 2,965 shares worth $324,545. The insider Lozano Monica C sold 397 shares worth $43,948.

The Walt Disney Company, incorporated on July 28, 1995, together with its subsidiaries and affiliates, is a diversified international family entertainment and media enterprise with five business divisions: media networks, parks and resorts, studio entertainment, consumer products and interactive media. The company has a market cap of $198.23 billion. Media Networks comprise an array of broadcast, cable, radio, publishing and digital businesses across two divisions the Disney/ABC Television Group and ESPN Inc. It has 23.43 P/E ratio. Walt Disney Parks and Resorts is a well-known provider of family travel and leisure experiences.

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