Potrero Capital Research LLC acquired a new stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) in the first quarter, Holdings Channel.com reports. The firm acquired 50,000 shares of the company’s stock, valued at approximately $2,713,000.
Other large investors have also bought and sold shares of the company. UBS Asset Management Americas Inc. grew its stake in shares of World Wrestling Entertainment by 2,912.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,613,372 shares of the company’s stock valued at $77,523,000 after purchasing an additional 1,559,810 shares during the last quarter. BlackRock Inc. raised its holdings in shares of World Wrestling Entertainment by 20.0% during the first quarter. BlackRock Inc. now owns 5,040,458 shares of the company’s stock worth $273,497,000 after acquiring an additional 840,158 shares during the period. Lindsell Train Ltd increased its stake in World Wrestling Entertainment by 6.3% in the 1st quarter. Lindsell Train Ltd now owns 11,075,514 shares of the company’s stock valued at $600,957,000 after buying an additional 659,276 shares during the last quarter. Morgan Stanley increased its stake in World Wrestling Entertainment by 108.1% in the 1st quarter. Morgan Stanley now owns 1,260,499 shares of the company’s stock valued at $68,395,000 after buying an additional 654,769 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of World Wrestling Entertainment during the 4th quarter worth about $27,061,000. 69.71% of the stock is owned by hedge funds and other institutional investors.
WWE has been the subject of several analyst reports. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating and set a $62.00 price objective for the company in a research note on Monday, April 12th. Morgan Stanley boosted their target price on shares of World Wrestling Entertainment from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, April 23rd. Barclays upped their price objective on shares of World Wrestling Entertainment from $51.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 6th. Cfra lowered shares of World Wrestling Entertainment to a “sell” rating and set a $45.00 target price on the stock. in a report on Friday, April 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of World Wrestling Entertainment in a research note on Friday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $58.42.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Thursday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.28. The company had revenue of $263.50 million during the quarter, compared to analyst estimates of $259.60 million. World Wrestling Entertainment had a net margin of 15.78% and a return on equity of 40.49%. World Wrestling Entertainment’s revenue was down 9.5% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. As a group, equities analysts expect that World Wrestling Entertainment, Inc. will post 1.62 EPS for the current fiscal year.
In related news, EVP Paul Levesque sold 37,115 shares of the firm’s stock in a transaction that occurred on Tuesday, April 27th. The shares were sold at an average price of $55.60, for a total value of $2,063,594.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 41.10% of the company’s stock.
World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.
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