Several other brokerages have also recently issued reports on WWE. Citigroup cut shares of World Wrestling Entertainment from a buy rating to a neutral rating and raised their target price for the stock from $29.00 to $33.00 in a report on Saturday, December 30th. Needham & Company LLC reissued a buy rating and set a $25.00 target price on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. JPMorgan Chase & Co. started coverage on shares of World Wrestling Entertainment in a report on Wednesday, December 6th. They set an overweight rating for the company. Wells Fargo & Co raised shares of World Wrestling Entertainment from a market perform rating to an outperform rating in a report on Thursday, January 4th. Finally, FBN Securities cut shares of World Wrestling Entertainment from an outperform rating to a sector perform rating in a report on Monday, October 30th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. World Wrestling Entertainment has an average rating of Hold and an average price target of $30.43.
World Wrestling Entertainment (NYSE WWE) opened at $32.18 on Thursday. 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 $18.71 and a fifty-two week high of $33.28. The stock has a market cap of $2,481.30, a price-to-earnings ratio of 60.72, a P/E/G ratio of 2.56 and a beta of 0.86.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 26th. Investors of record on Friday, December 15th were given a dividend of $0.12 per share. The ex-dividend date 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 presently 106.67%.
In related news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the sale, the chief executive officer now owns 3,340,000 shares in the company, valued at $95,791,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Blake Timothy Bilstad sold 1,801 shares of the firm’s stock in a transaction on 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 currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Lindsell Train Ltd grew its position in World Wrestling Entertainment by 2.1% during the third quarter. Lindsell Train Ltd now owns 7,232,868 shares of the company’s stock valued at $170,334,000 after buying an additional 150,000 shares during the period. BlackRock Inc. grew its position in World Wrestling Entertainment by 1.4% during the second quarter. BlackRock Inc. now owns 4,487,555 shares of the company’s stock valued at $91,410,000 after buying an additional 61,167 shares during the period. EastBay Asset Management LLC grew its position in shares of World Wrestling Entertainment by 153.2% in the second quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock valued at $27,237,000 after purchasing an additional 809,130 shares during the period. State Street Corp grew its position in shares of World Wrestling Entertainment by 5.5% in the second quarter. State Street Corp now owns 872,209 shares of the company’s stock valued at $17,763,000 after purchasing an additional 45,601 shares during the period. Finally, Davidson Kempner Capital Management LP grew its position in shares of World Wrestling Entertainment by 286.7% in the second quarter. Davidson Kempner Capital Management LP now owns 725,000 shares of the company’s stock valued at $14,768,000 after purchasing an additional 537,500 shares during the period. Institutional investors own 49.75% of the company’s stock.
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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