Teachers Retirement System of The State of Kentucky reduced its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 42.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,800 shares of the company’s stock after selling 4,943 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in World Wrestling Entertainment were worth $658,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of World Wrestling Entertainment by 48.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,318,100 shares of the company’s stock valued at $241,624,000 after purchasing an additional 1,083,700 shares during the period. Swiss National Bank lifted its position in shares of World Wrestling Entertainment by 3.3% during the 2nd quarter. Swiss National Bank now owns 66,700 shares of the company’s stock valued at $4,857,000 after buying an additional 2,100 shares in the last quarter. First Trust Advisors LP lifted its position in shares of World Wrestling Entertainment by 14.0% during the 2nd quarter. First Trust Advisors LP now owns 108,235 shares of the company’s stock valued at $7,882,000 after buying an additional 13,331 shares in the last quarter. Securian Asset Management Inc purchased a new position in shares of World Wrestling Entertainment during the 3rd quarter valued at about $514,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of World Wrestling Entertainment during the 2nd quarter valued at about $212,000. Institutional investors and hedge funds own 59.92% of the company’s stock.
WWE stock opened at $71.56 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.23 and a current ratio of 1.26. World Wrestling Entertainment, Inc. has a twelve month low of $28.73 and a twelve month high of $97.69. The stock has a market cap of $5.58 billion, a PE ratio of 110.09 and a beta of 1.13.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.37 EPS for the quarter, topping the Zacks’ 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 company had revenue of $188.40 million for the quarter, compared to analysts’ expectations of $203.08 million. As a group, equities analysts forecast that World Wrestling Entertainment, Inc. will post 0.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 14th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. World Wrestling Entertainment’s dividend payout ratio is presently 73.85%.
In related news, insider George A. Barrios sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $96.22, for a total value of $4,811,000.00. Following the transaction, the insider now directly owns 173,661 shares of the company’s stock, valued at approximately $16,709,661.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent K. Mcmahon sold 306,000 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $74.73, for a total value of $22,867,380.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 396,000 shares of company stock worth $30,335,605. 45.10% of the stock is owned by insiders.
WWE has been the topic of a number of analyst reports. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Monday, October 29th. KeyCorp reaffirmed a “buy” rating on shares of World Wrestling Entertainment in a research report on Friday, October 26th. Cannonball Research raised World Wrestling Entertainment to a “buy” rating and set a $95.00 price objective on the stock in a research report on Thursday, October 11th. Guggenheim lifted their price objective on World Wrestling Entertainment from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, November 28th. Finally, Citigroup lowered their price objective on World Wrestling Entertainment from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, October 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $87.42.
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World Wrestling Entertainment Company 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.
See Also: Ex-Dividend
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