Retirement Systems of Alabama reduced its stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,616 shares of the company’s stock after selling 353 shares during the quarter. Retirement Systems of Alabama owned about 0.08% of World Wrestling Entertainment worth $3,973,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Empowered Funds LLC bought a new stake in World Wrestling Entertainment in the third quarter valued at approximately $2,082,000. Russell Investments Group Ltd. raised its stake in World Wrestling Entertainment by 359.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 45,072 shares of the company’s stock worth $3,162,000 after buying an additional 35,272 shares during the period. CIBC Asset Management Inc acquired a new position in World Wrestling Entertainment in the third quarter valued at about $200,000. WD Rutherford LLC bought a new stake in shares of World Wrestling Entertainment in the third quarter worth about $51,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of World Wrestling Entertainment by 243.0% in the third quarter. Teacher Retirement System of Texas now owns 24,936 shares of the company’s stock worth $1,750,000 after acquiring an additional 17,667 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on WWE. MKM Partners boosted their price objective on World Wrestling Entertainment from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 19th. Loop Capital boosted their price objective on shares of World Wrestling Entertainment from $90.00 to $105.00 in a research report on Friday, January 6th. StockNews.com started coverage on World Wrestling Entertainment in a report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley upped their price objective on World Wrestling Entertainment from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 17th. Finally, Citigroup lifted their target price on World Wrestling Entertainment to $86.00 in a research report on Tuesday, November 15th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $88.20.
World Wrestling Entertainment Stock Up 1.9 %
WWE stock opened at $86.20 on Thursday. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 33.15 and a beta of 1.15. World Wrestling Entertainment, Inc. has a twelve month low of $47.72 and a twelve month high of $93.63. The business has a 50 day moving average price of $79.13 and a two-hundred day moving average price of $74.49. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.82.
World Wrestling Entertainment (NYSE:WWE – Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. The business had revenue of $304.60 million during the quarter, compared to analysts’ expectations of $285.73 million. World Wrestling Entertainment had a net margin of 17.29% and a return on equity of 54.64%. Analysts anticipate that World Wrestling Entertainment, Inc. will post 2.57 EPS for the current fiscal year.
World Wrestling Entertainment Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Wednesday, March 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.48 annualized dividend and a yield of 0.56%. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 18.46%.
World Wrestling Entertainment Profile
World Wrestling Entertainment, Inc is an integrated media and entertainment company. The firm is engaged in the production and distribution of content through various channels including the premium over-the-top network monetized through license arrangements or through direct-to-consumer subscriptions, content rights agreements, premium live event programming, filmed entertainment, live events, licensing of various WWE themed products, and the sale of consumer products featuring its brands.
Further Reading
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