Should You Now Consider Selling Your Disney (DIS) Stake?

Aristotle Atlantic Partners, an investment management firm, released its second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Aristotle Atlantic’s Core Equity Composite posted a total return of 9.29 % gross of fees (9.18% net of fees), outperforming the S&P 500 Index, which recorded a total return of 8.74%. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.

In its Q2 2023 investor letter, Aristotle Atlantic Partners mentioned The Walt Disney Company (NYSE:DIS) and explained its insights for the company. Founded in 1923, The Walt Disney Company (NYSE:DIS) is a Burbank, California-based mass media and entertainment conglomerate with a $157.3 billion market capitalization. The Walt Disney Company (NYSE:DIS) delivered a -0.86% return since the beginning of the year, while its 12-month returns are down by -18.82%. The stock closed at $86.13 per share on July 28, 2023.

Here is what Aristotle Atlantic Partners has to say about The Walt Disney Company (NYSE:DIS) in its Q2 2023 investor letter:

“We sold our position in Disney, as the shift to streaming since the launch of Disney Plus nearly three years ago has been more challenging than expected. Overall company margins have declined, primarily driven by losses in the streaming segment, as Disney Plus strives to attract more subscribers. The focus on growth and profitability in streaming has come at the expense of reduced licensing revenues, as content shifts from the company’s traditional linear networks to Disney Plus. Additionally, Disney is going through this challenging transition amidst upheaval in senior management.”

Our calculations show that The Walt Disney Company (NYSE:DIS) ranks 23rd on our list of the 30 Most Popular Stocks Among Hedge Funds. The Walt Disney Company (NYSE:DIS) was in 95 hedge fund portfolios at the end of the second quarter of 2023, compared to 99 funds in the previous quarter. The Walt Disney Company (NYSE:DIS) delivered a -15.97% return in the past 3 months.

We also discussed The Walt Disney Company (NYSE:DIS) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q2 2023 page.

Suggested Articles:

• 12 Best Growth Stocks Under $25
• 15 Jobs That are Guaranteed to Get You More Sex
• 15 Best African Countries for Female Sex Tourism

Disclosure: None. This article is originally published at Insider Monkey.