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Walt Disney gains on report activist investor ValueAct owns a 'significant' stake

Published Nov 15, 2023 15:22
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Walt Disney (NYSE:DIS) shares rose 2% in early Wednesday trade after CNBC reported that activist investor ValueAct Capital has a “significant stake” in the media entertainment company.

ValueAct Capital reportedly initiated the buying of Disney shares this summer during the Hollywood strikes, and it has become one of their significant holdings.

The activist investor, known for its expertise in technology and media, is actively engaged in discussions with Disney's management and continues to increase its position.

The hedge fund believes that Disney's theme parks and consumer products businesses, generating around $10 billion in EBIT (earnings before interest and taxes), alone justify a valuation in the low $80s per share.

Disney shares closed at $91.07 on Tuesday.

ValueAct’s average purchase price is in the “low $80s per share,” as per the report.

Walt Disney gains on report activist investor ValueAct owns a 'significant' stake
 

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