InvesTrust sold close to 40,000 shares in The Walt Disney Company, as per a 13-F filing. The update comes as multiple firms adjust their positions on the entertainment firm that is currently retooling its strategy and offerings in an attempt to capture growth.
In contrast to InvesTrust’s sale, other investment firms have been buying more shares, including MJT & Associates Financial Advisory Group, Mpwm Advisory Solutions LLC, Kessler Investment Group LLC, Copia Wealth Management, and Vermillion Wealth Managment, according to Market Beat.
Source: Google Finance
Walt Disney shares closed on Wednesday at a price of $116.10.
The company posted its third-quarter earnings for its fiscal year 2025 in August, reporting revenues of $23.7 billion and income before taxes of $3.2 billion. Highlights included an increase of 1.8 million in the company’s Disney+ user base to 128 million. Guidance for Q4 2025 forecasted an increase of more than 10 million Hulu and Disney+ subscriptions, with most of the growth coming from Hulu.
Disney also signed an agreement on Monday with Webtoon Entertainment to create a digital platform that will aggregate more than 35,000 comics under a subscription fee, as per a press release. As part of the deal, Webtoon will also sell a 2% equity stake to Disney.