World Wrestling Entertainment, Inc. (NYSE:WWE)’s stock price traded up 5.1% on Tuesday . The stock traded as high as $67.26 and last traded at $66.70, 2,031,669 shares were traded during trading. An increase of 83% from the average session volume of 1,112,902 shares. The stock had previously closed at $63.47.
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on World Wrestling Entertainment from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Morgan Stanley dropped their price objective on World Wrestling Entertainment from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Benchmark upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Friday, July 26th. Zacks Investment Research cut World Wrestling Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 30th. Finally, ValuEngine cut World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. World Wrestling Entertainment presently has a consensus rating of “Buy” and an average target price of $102.73.
The firm has a market capitalization of $5.29 billion, a PE ratio of 59.55 and a beta of 1.37. The company’s 50-day simple moving average is $71.66. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.13.
World Wrestling Entertainment (NYSE:WWE) last announced its earnings results on Thursday, July 25th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.14. World Wrestling Entertainment had a return on equity of 23.92% and a net margin of 8.42%. The firm had revenue of $268.90 million during the quarter, compared to analyst estimates of $271.21 million. During the same period last year, the firm posted $0.11 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. On average, analysts anticipate that World Wrestling Entertainment, Inc. will post 0.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Friday, September 13th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, September 12th. World Wrestling Entertainment’s dividend payout ratio is presently 42.86%.
In other news, insider Kevin Dunn sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $73.40, for a total transaction of $1,027,600.00. Following the completion of the sale, the insider now directly owns 135,059 shares of the company’s stock, valued at approximately $9,913,330.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider George A. Barrios sold 74,678 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $70.06, for a total value of $5,231,940.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,047 shares of company stock valued at $17,794,397. Insiders own 43.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in WWE. Legal & General Group Plc lifted its stake in World Wrestling Entertainment by 6.0% during the fourth quarter. Legal & General Group Plc now owns 44,709 shares of the company’s stock valued at $3,341,000 after purchasing an additional 2,534 shares during the last quarter. Norges Bank acquired a new stake in World Wrestling Entertainment during the fourth quarter valued at approximately $31,712,000. Geode Capital Management LLC lifted its stake in World Wrestling Entertainment by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 504,124 shares of the company’s stock valued at $37,668,000 after purchasing an additional 71,849 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in World Wrestling Entertainment by 39.9% during the first quarter. First Citizens Bank & Trust Co. now owns 5,155 shares of the company’s stock valued at $447,000 after purchasing an additional 1,470 shares during the last quarter. Finally, First Manhattan Co. lifted its stake in World Wrestling Entertainment by 1.4% during the first quarter. First Manhattan Co. now owns 23,101 shares of the company’s stock valued at $2,004,000 after purchasing an additional 326 shares during the last quarter. 68.33% of the stock is owned by institutional investors.
World Wrestling Entertainment Company Profile (NYSE:WWE)
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. It operates in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.
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