Arizona State Retirement System lowered its holdings in World Wrestling Entertainment, Inc. (NYSE:WWE) by 47.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,795 shares of the company’s stock after selling 27,463 shares during the period. Arizona State Retirement System’s holdings in World Wrestling Entertainment were worth $2,979,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in shares of World Wrestling Entertainment by 175.0% in the second quarter. Meeder Asset Management Inc. now owns 1,815 shares of the company’s stock valued at $132,000 after purchasing an additional 1,155 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of World Wrestling Entertainment by 48.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,246 shares of the company’s stock valued at $164,000 after purchasing an additional 734 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of World Wrestling Entertainment in the third quarter valued at $222,000. Strs Ohio purchased a new stake in shares of World Wrestling Entertainment in the second quarter valued at $167,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of World Wrestling Entertainment in the second quarter valued at $212,000. Institutional investors own 61.57% of the company’s stock.
In other World Wrestling Entertainment news, insider George A. Barrios sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $96.22, for a total transaction of $4,811,000.00. Following the transaction, the insider now directly owns 173,661 shares in the company, valued at $16,709,661.42. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mark Kowal sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $83.03, for a total value of $207,575.00. Following the transaction, the chief accounting officer now owns 12,372 shares in the company, valued at $1,027,247.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,446 shares of company stock worth $16,396,273. Corporate insiders own 45.10% of the company’s stock.
Shares of NYSE:WWE opened at $69.57 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.10. World Wrestling Entertainment, Inc. has a 1 year low of $27.10 and a 1 year high of $97.69. The firm has a market cap of $5.87 billion, a P/E ratio of 107.03 and a beta of 1.18.
World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.18. World Wrestling Entertainment had a return on equity of 27.69% and a net margin of 7.27%. The business had revenue of $188.40 million during the quarter, compared to analyst estimates of $203.08 million. Analysts anticipate that World Wrestling Entertainment, Inc. will post 0.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.48 annualized dividend and a yield of 0.69%. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 73.85%.
WWE has been the subject of a number of research analyst reports. Zacks Investment Research upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Monday, October 29th. KeyCorp reiterated a “buy” rating on shares of World Wrestling Entertainment in a report on Friday, October 26th. Cannonball Research upgraded World Wrestling Entertainment to a “buy” rating and set a $95.00 price objective for the company in a report on Thursday, October 11th. Needham & Company LLC increased their price objective on World Wrestling Entertainment from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on World Wrestling Entertainment from $77.00 to $84.00 and gave the stock a “hold” rating in a report on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $85.25.
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World Wrestling Entertainment Profile
World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.
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