5 Best News and Digital Media Stocks To Buy

2. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 89

The Walt Disney Company (NYSE:DIS), a global entertainment company, operates through three segments – Entertainment, Sports, and Experiences. It produces and distributes film and television content under various brands, including ABC, Disney, Fox, National Geographic, and Star. The company also offers direct-to-consumer streaming services such as Disney+, Hulu, and Star+, as well as sports-related entertainment through ESPN. The Walt Disney Company (NYSE:DIS) is one of the best entertainment stocks to invest in. 

According to Insider Monkey’s fourth quarter database, 89 hedge funds were bullish on The Walt Disney Company (NYSE:DIS), same as the prior quarter. Nelson Peltz’s Trian Partners is the largest stakeholder of the company, with 32.3 million shares worth $2.9 billion. 

Madison Sustainable Equity Fund made the following comment about The Walt Disney Company (NYSE:DIS) in its Q3 2023 investor letter:

“During the quarter, we sold our positions in Bristol-Myers Squibb and The Walt Disney Company (NYSE:DIS).  The Walt Disney Company is facing a difficult and uncertain transition in its core media business assets including the ESPN business and other linear media assets. These media assets are cash generative but face secular decline as consumers are cutting their expensive cable subscriptions and moving to alternative streaming options. This has resulted in a decline in operating profits for the media division. The media business has long-term fixed costs related to its sports broadcasting agreement with multiple sports leagues which will further pressure profits during this transition.”