Geode Capital Management LLC Has $6.57 Million Position in World Wrestling Entertainment, Inc. (WWE)

Geode Capital Management LLC increased its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 19.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 295,641 shares of the company’s stock after buying an additional 47,182 shares during the period. Geode Capital Management LLC owned approximately 0.39% of World Wrestling Entertainment worth $6,569,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its stake in World Wrestling Entertainment by 4.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock worth $195,000 after buying an additional 380 shares in the last quarter. Mason Street Advisors LLC boosted its position in World Wrestling Entertainment by 7.1% in the first quarter. Mason Street Advisors LLC now owns 9,003 shares of the company’s stock worth $200,000 after buying an additional 600 shares during the last quarter. Karp Capital Management Corp acquired a new position in World Wrestling Entertainment during the first quarter worth about $228,000. UBS Asset Management Americas Inc. acquired a new position in World Wrestling Entertainment during the first quarter worth about $229,000. Finally, Louisiana State Employees Retirement System boosted its position in World Wrestling Entertainment by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the company’s stock worth $349,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 50.11% of the company’s stock.

World Wrestling Entertainment, Inc. (WWE) opened at 20.90 on Friday. The stock’s 50 day moving average price is $21.02 and its 200 day moving average price is $20.91. World Wrestling Entertainment, Inc. has a 52-week low of $16.77 and a 52-week high of $23.14. The firm has a market capitalization of $1.61 billion, a PE ratio of 63.72 and a beta of 0.82.

World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, July 27th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. The business had revenue of $214.60 million during the quarter, compared to analyst estimates of $209.28 million. During the same period in the previous year, the company posted $0.01 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that World Wrestling Entertainment, Inc. will post $0.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, September 14th. World Wrestling Entertainment’s payout ratio is 154.84%.

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A number of research analysts have issued reports on the company. Morgan Stanley assumed coverage on World Wrestling Entertainment in a research note on Friday, June 30th. They issued an “equal weight” rating and a $23.00 target price for the company. ValuEngine cut World Wrestling Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. TheStreet raised World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Zacks Investment Research raised 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 Monday, July 31st. Finally, BidaskClub cut World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.38.

In related news, EVP Casey Collins sold 13,383 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $21.23, for a total value of $284,121.09. Following the completion of the sale, the executive vice president now directly owns 43,926 shares of the company’s stock, valued at approximately $932,548.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Kowal sold 4,750 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $21.44, for a total value of $101,840.00. Following the completion of the sale, the senior vice president now directly owns 17,011 shares of the company’s stock, valued at $364,715.84. The disclosure for this sale can be found here. Insiders sold a total of 73,133 shares of company stock valued at $1,554,711 over the last ninety days. 49.80% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for World Wrestling Entertainment (NYSE:WWE)

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