Walt Disney (NYSE: DIS) shares are trading lower on Tuesday, after Loop Capital downgraded the stock from Buy to Hold.
On Monday, the company lost its head of streaming, Kevin Mayer, who has served as Disney's chairman of its direct-to-consumer and the international segment where he oversaw Disney+, Hulu and ESPN+. Mayer departed from Disney to TikTok, the popular short video app.
Disney shares traded down 1.42% at $115.13 on Tuesday. The stock has a 52-week high of $153.41 and a 52-week low of $79.07.