Hedge Fund Third Point Takes New Stake in Walt Disney (DIS)

Third Point Confirms Position in The Walt Disney Company (DIS), Calls for Changes

Third Point LLC (LSE: TPOU) (Third Point), a New York-based investment firm managing approximately $14 billion in assets today sent a letter to Disney (NYSE: DIS) CEO Bob Chapek, the full text of which is below.

Mr. Robert A. Chapek
Chief Executive Officer
The Walt Disney Company
500 S. Buena Vista Street
Burbank, CA 91521

August 15, 2022

Dear Bob:

Congratulations on a terrific quarter and positive momentum in Parks, ESPN, and media and entertainment. We were particularly pleased to see the strength in DTC subscriber... More

UPDATE: Third Point's Dan Loeb Has New Stake in Disney (DIS), Sends Letter to CEO - CNBC

(Updated - August 15, 2022 10:09 AM EDT)

Dan Loeb' Third Point has taken a new 'significant' position in Walt Disney (NYSE: DIS), according to CNBC, citing a letter. Loeb's letter to Disney suggested a potential spin off of ESPN, along with board changes, and other suggestions.

Pre-Open Movers: Disney Surges After Subscriber Adds Beat, Six Flags Shares Fall

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Veru, Inc. (NASDAQ: VERU) +20%; announced financial results for its fiscal 2022 third quarter ended June 30, 2022, and sabizabulin for COVID progress towards regulatory decisions in key... More

Walt Disney (DIS) PT Raised to $145 at Wells Fargo

Wells Fargo analyst Steven Cahall raised the price target on Walt Disney (NYSE: DIS) to $145.00 (from $130.00) while maintaining a Overweight rating.... More

Walt Disney (DIS) PT Raised to $130 at CFRA

CFRA raised its price target on Walt Disney (NYSE: DIS) to $130.00 (from $110.00) while maintaining a Hold rating.... More

Disney (DIS) Stock Gains on Disney+ Beat and Raised Prices, Earns Upgrade to Buy

Shares of Disney (NYSE: DIS) are up more than 8% in premarket trading Thursday after the company reported stronger-than-expected Disney+ subscriber numbers for Q3.

The company reported Q3 adjusted EPS of $1.09, up from 80c in the year-ago period and above the consensus estimates of 96c per share. Revenue came in at $21.5 billion, up 26% YoY and just above the analyst consensus of $21 billion.

Media and entertainment distribution revenue... More

Guggenheim Upgrades Walt Disney (DIS) to Buy

Guggenheim analyst Michael Morris upgraded Walt Disney (NYSE: DIS) from Neutral to Buy with a price target of $145.00 (from $110.00).

For an analyst ratings summary and ratings history on Walt Disney click here. For more ratings news on Walt Disney click here.

Shares of Walt Disney closed at $112.43 yesterday.