BTIG Research Raises World Wrestling Entertainment (WWE) Price Target to $36.00

World Wrestling Entertainment (NYSE:WWE) had its price target upped by investment analysts at BTIG Research to $36.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 15.94% from the company’s previous close.

WWE has been the subject of several other reports. Zacks Investment Research upgraded World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Monday, October 30th. KeyCorp restated a “hold” rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. Benchmark raised their price target on World Wrestling Entertainment from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. FBN Securities lowered World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research note on Monday, October 30th. Finally, Citigroup lowered World Wrestling Entertainment from a “buy” rating to a “neutral” rating in a research note on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. World Wrestling Entertainment currently has an average rating of “Buy” and an average price target of $27.63.

Shares of World Wrestling Entertainment (NYSE:WWE) opened at $31.05 on Monday. The company has a current ratio of 2.68, a quick ratio of 2.62 and a debt-to-equity ratio of 0.83. World Wrestling Entertainment has a fifty-two week low of $18.36 and a fifty-two week high of $33.28. The stock has a market cap of $2,390.00, a P/E ratio of 67.50, a price-to-earnings-growth ratio of 2.47 and a beta of 0.86.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, October 26th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.08. The firm had revenue of $186.40 million during the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. equities research analysts anticipate that World Wrestling Entertainment will post 0.58 earnings per share for the current year.

In related news, SVP Blake Timothy Bilstad sold 1,801 shares of World Wrestling Entertainment stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total transaction of $47,546.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of World Wrestling Entertainment stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $28.68, for a total value of $95,791,200.00. Following the sale, the chief executive officer now directly owns 3,340,000 shares of the company’s stock, valued at approximately $95,791,200. The disclosure for this sale can be found here. 49.80% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Pinebridge Investments L.P. increased its position in shares of World Wrestling Entertainment by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock valued at $104,000 after buying an additional 51 shares in the last quarter. Thrivent Financial For Lutherans increased its position in shares of World Wrestling Entertainment by 7.1% during the second quarter. Thrivent Financial For Lutherans now owns 23,290 shares of the company’s stock worth $474,000 after purchasing an additional 1,550 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of World Wrestling Entertainment by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,110 shares of the company’s stock worth $634,000 after purchasing an additional 1,846 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of World Wrestling Entertainment by 8.1% during the second quarter. Victory Capital Management Inc. now owns 28,026 shares of the company’s stock worth $571,000 after purchasing an additional 2,094 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of World Wrestling Entertainment by 0.8% during the third quarter. Principal Financial Group Inc. now owns 314,605 shares of the company’s stock worth $7,409,000 after purchasing an additional 2,378 shares in the last quarter. 49.75% of the stock is owned by institutional investors.

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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.

The Fly

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