Retirement Systems of Alabama cut its stake in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 1.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 57,426 shares of the company’s stock after selling 1,131 shares during the quarter. Retirement Systems of Alabama’s holdings in World Wrestling Entertainment were worth $3,586,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in World Wrestling Entertainment in the 4th quarter valued at about $47,000. Widmann Financial Services Inc. purchased a new position in World Wrestling Entertainment in the 4th quarter worth approximately $59,000. Benjamin F. Edwards & Company Inc. lifted its stake in World Wrestling Entertainment by 18.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,382 shares of the company’s stock worth $118,000 after purchasing an additional 368 shares in the last quarter. Maryland State Retirement & Pension System purchased a new position in World Wrestling Entertainment in the 1st quarter worth approximately $237,000. Finally, ProShare Advisors LLC purchased a new position in World Wrestling Entertainment in the 4th quarter worth approximately $210,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.
WWE has been the topic of a number of research reports. TheStreet raised shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research note on Monday, May 16th. Guggenheim raised their price target on shares of World Wrestling Entertainment from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, June 16th. JPMorgan Chase & Co. raised their price target on shares of World Wrestling Entertainment from $58.00 to $64.00 in a report on Thursday, April 21st. StockNews.com initiated coverage on shares of World Wrestling Entertainment in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wolfe Research raised their price target on shares of World Wrestling Entertainment from $57.00 to $68.00 and gave the stock a “peer perform” rating in a report on Thursday, June 2nd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.78.
World Wrestling Entertainment stock opened at $63.49 on Thursday. World Wrestling Entertainment, Inc. has a fifty-two week low of $46.81 and a fifty-two week high of $68.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.51 and a current ratio of 1.53. The firm has a 50 day moving average price of $62.26 and a 200 day moving average price of $57.99. The company has a market capitalization of $4.72 billion, a PE ratio of 26.56 and a beta of 1.21.
World Wrestling Entertainment (NYSE:WWE – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.09. World Wrestling Entertainment had a net margin of 17.40% and a return on equity of 53.60%. The firm had revenue of $333.40 million during the quarter, compared to the consensus estimate of $325.70 million. During the same quarter last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. As a group, equities research analysts forecast that World Wrestling Entertainment, Inc. will post 2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 27th. Shareholders of record on Wednesday, June 15th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.76%. World Wrestling Entertainment’s dividend payout ratio (DPR) is 20.08%.
In other World Wrestling Entertainment news, insider Kevin Dunn sold 15,000 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $66.70, for a total value of $1,000,500.00. Following the completion of the transaction, the insider now owns 271,171 shares in the company, valued at $18,087,105.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 41.40% of the company’s stock.
World Wrestling Entertainment Profile (Get Rating)
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 video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment.
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