Citigroup downgraded shares of World Wrestling Entertainment (NYSE:WWE) from a buy rating to a neutral rating in a research note released on Friday, December 22nd, Marketbeat reports.
Other analysts have also issued research reports about the stock. Benchmark lifted their price objective on shares of World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a buy rating in a research report on Tuesday, October 31st. Needham & Company LLC reaffirmed a buy rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a research report on Tuesday, September 26th. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Tuesday, September 12th. ValuEngine upgraded shares of World Wrestling Entertainment from a sell rating to a hold rating in a research note on Friday, September 1st. Finally, KeyCorp reiterated a hold rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $30.43.
World Wrestling Entertainment (NYSE:WWE) traded up $0.34 on Friday, hitting $32.18. 690,729 shares of the company were exchanged, compared to its average volume of 814,076. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.68 and a quick ratio of 2.62. World Wrestling Entertainment has a one year low of $18.71 and a one year high of $33.28. The company has a market capitalization of $2,480.00, a price-to-earnings ratio of 69.96, a P/E/G ratio of 2.53 and a beta of 0.86.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.08. The company had revenue of $186.40 million for the quarter, compared to analyst estimates of $176.19 million. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. analysts predict that World Wrestling Entertainment will post 0.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 26th. Investors of record on Friday, December 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.48 annualized dividend and a yield of 1.49%. World Wrestling Entertainment’s dividend payout ratio is currently 104.35%.
In other World Wrestling Entertainment news, SVP Blake Timothy Bilstad sold 1,801 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total value of $47,546.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the completion of the sale, the chief executive officer now owns 3,340,000 shares of the company’s stock, valued at $95,791,200. The disclosure for this sale can be found here. 49.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of World Wrestling Entertainment by 6.3% in the 2nd quarter. Northern Trust Corp now owns 516,923 shares of the company’s stock worth $10,529,000 after acquiring an additional 30,596 shares during the last quarter. State Street Corp lifted its holdings in shares of World Wrestling Entertainment by 5.5% in the 2nd quarter. State Street Corp now owns 872,209 shares of the company’s stock worth $17,763,000 after acquiring an additional 45,601 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of World Wrestling Entertainment by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 222,028 shares of the company’s stock worth $4,523,000 after acquiring an additional 20,576 shares during the last quarter. EastBay Asset Management LLC lifted its holdings in shares of World Wrestling Entertainment by 153.2% in the 2nd quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock worth $27,237,000 after acquiring an additional 809,130 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of World Wrestling Entertainment by 25.8% in the 2nd quarter. New York State Common Retirement Fund now owns 40,900 shares of the company’s stock worth $833,000 after acquiring an additional 8,399 shares during the last quarter. Hedge funds and other institutional investors own 49.75% of the company’s stock.
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About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.
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