North Star Investment Management Corp. lessened its stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 24.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 47,250 shares of the company’s stock after selling 15,300 shares during the quarter. North Star Investment Management Corp.’s holdings in World Wrestling Entertainment were worth $1,445,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinebridge Investments L.P. increased its position in World Wrestling Entertainment by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock worth $104,000 after acquiring an additional 51 shares during the period. Thrivent Financial For Lutherans increased its position in 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 acquiring an additional 1,550 shares during the period. The Manufacturers Life Insurance Company increased its position in 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 acquiring an additional 1,846 shares during the period. Victory Capital Management Inc. increased its position in 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 acquiring an additional 2,094 shares during the period. Finally, Principal Financial Group Inc. increased its position in 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 acquiring an additional 2,378 shares during the period. Institutional investors own 49.75% of the company’s stock.
A number of equities analysts recently commented on the stock. Citigroup lowered shares of World Wrestling Entertainment from a “buy” rating to a “neutral” rating in a research report on Friday, December 22nd. Guggenheim set a $40.00 price target on shares of World Wrestling Entertainment and gave the stock a “buy” rating in a research report on Thursday. BTIG Research raised their price target on shares of World Wrestling Entertainment to $36.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Co raised shares of World Wrestling Entertainment from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 4th. Finally, JPMorgan Chase & Co. started coverage on shares of World Wrestling Entertainment in a research report on Wednesday, December 6th. They set an “overweight” rating on the stock. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $30.43.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, October 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The firm had revenue of $186.40 million for the quarter, compared to analyst estimates of $176.19 million. During the same period last year, the firm earned $0.14 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. equities research analysts predict that World Wrestling Entertainment, Inc. will post 0.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Friday, December 15th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.51%. The ex-dividend date was Thursday, December 14th. World Wrestling Entertainment’s dividend payout ratio is currently 104.35%.
In other World Wrestling Entertainment news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $28.68, for a total value of $95,791,200.00. Following the transaction, the chief executive officer now directly owns 3,340,000 shares of the company’s stock, valued at approximately $95,791,200. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Blake Timothy Bilstad sold 1,801 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total transaction of $47,546.40. The disclosure for this sale can be found here. 49.80% of the stock is owned by company insiders.
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World Wrestling Entertainment Company Profile
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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