Finally, to add insult to injury Broadridge has instituted a charge of $10 to transfer stock to another account. As I use my account to parcel birthday, Christmas and graduation presents to nieces and nephews, the $10 charge amounts to roughly a 10% fee. They certainly don’t charge Ameritrade, Schwab, Scottrade etc., a $10 transaction fee. They’ve reserved that poison for their own customers. Although at this point Broadridge deserves almost all of the blame for these problems the fault will become ever increasingly Disney’s the longer Disney tolerates Broadridge’s incompetence, arrogance and disrespect of it’s customers and shareholders.
Sorry to rain on what should be the 2nd Happiest Place on Earth but I feel I must warn potential buyers about problems at Broadridge - Disney's transfer agent.
Although a Transfer Agent is invisible to most Disney stock buyers, the agent keeps a master record of owners and disburses dividends as well as officiates stock certification and ownership. Some companies also use the transfer agent to administer a dividend reinvestment program (DRIP) and/or direct stock purchase plan (DSPP) as Disney has done. This is an important function, especially for Disney, as it allows the regular accumulation of stock and even fractional shares over time by small investors (think children) at reduced commissions of just $1 per transaction.
As you may know, since Broadridge’s replacement of Disney’s own in-house transfer agent operation, official Disney stock certificates have been eliminated and replaced with a commemorative “certificate” that has no legal status. These are sold by Disney rather than Broadridge. All real ownership is now maintained electronically. Additionally, Disney/Broadridge has continued the practice of paying annual rather than the more typical quarterly dividends. This should make the transfer agent operation quite streamlined and easy. Yet, problems have suggested the wise investor should have ever less confidence in the Broadridge’s operation.
See part 2 for specifics on the problems.
A day before the Memorial Day and Volatility DIS @ $ 110.33
Date .------------ Price .------------ Change
5/27/2011 .------------ 41.52 .------------
5/25/2012 .------------ 44.50 .------------ 7.18%
5/24/2013 .------------ 65.49 .------------ 47.17%
5/23/2014 .------------ 83.32 .------------ 27.23%
5/22/2015 .------------ 110.33 .------------ 32.42%......May 18, 2015
Memorial Day typically marks the start of the summer vacation season. Markets generally have a rally before the parade and barbeque.
Weekly volatility, that is difference between high and low for Disney is 3 points.
18-May......... High = 110.74 and low =110.33 the difference = 0.73
For traders, odds for Disney are very low, for it to make a new high this week; there is lot of over head supply. So how will Disney create this average volatility?
More like $150 end of Dec.... 2015. ($132 normal trend) This Star Wars is going to be HUGE, guys.
Sentiment: Strong Buy
Carolyn is useless, she's better off throwing darts on the board to figure out tomorrow's closing PPS. Technicals are useless when you have yellen, the fed, wars, etc.
How do you put Lone Ranger and Tomorrow land and in the same sentence? I think the name alone will put butts in seats.
Reemergence of Star Wars franchise will energize movie revenues. Theme parks outperform too. Target of $160 is at close of December 2016.
Sentiment: Strong Buy
I usually find her posting some what intriguing, at least giving a thoughtful but different perspective.
Everyone should try to calm down a little.
It apparently doesn't take much to rustle Carolyn's feathers. There's always appears to be someone on every board that feels they need to be the board monitor! Her scolding is mindless!
So he sold about 15 - 20% of his portfolio. And I bet he has a lot of stock options that isn't figured in. $20 million really isn't a lot in today's age for these people.
I had stock in a company when the principals sold some stock in 2010 when their stock had bounced back from the vicious lows - I did not begrudge them their sale; on the other hand, the financial person in charge kept selling his stock options whenever they matured; and that got my ire up - when the company was sold and I realized this person could have made a nice bundle if he had held on, I chuckled to myself.