The Walt Disney Co.’s (DIS) short interest increased by $696 million over the past month as CEO Bob Iger’s comments at the BofA Media, Communications & Entertainment Conference sparked a 4.4% drop in Disney’s stock price as it hit its year-to-date low of $97.06 on September 7th. Iger revealed that 2017 EPS would be in line with 2016 results instead of the 3% increase that analysts had been expecting and drastically below Disney’s EPS growth of 17.8% since 2010.
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Communication ServicesDisneySectors
S3 Analytics: Disney Short Interest Nearing 5 Year Low
by S3 PartnersThe Walt Disney Co. (Dis US) is the most shorted security in the Movies and Entertainment sector, with over twice the number of shorts as the runner-up Time Warner Inc. (TWX US). The overall Movies and Entertainment sector in the U.S. has $6.05 billion of total short interest, of which over a quarter is DIS. Over the last month the sector saw $553 million in short covering, 87% was in DIS.
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