State Street Corp boosted its position in World Wrestling Entertainment, Inc. (NYSE:WWE) by 5.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 872,209 shares of the company’s stock after purchasing an additional 45,601 shares during the quarter. State Street Corp owned approximately 1.13% of World Wrestling Entertainment worth $17,763,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Lindsell Train Ltd raised its holdings in World Wrestling Entertainment by 4.2% in the second quarter. Lindsell Train Ltd now owns 7,082,868 shares of the company’s stock worth $144,278,000 after purchasing an additional 286,635 shares in the last quarter. BlackRock Inc. raised its holdings in World Wrestling Entertainment by 1.4% in the second quarter. BlackRock Inc. now owns 4,487,555 shares of the company’s stock worth $91,410,000 after purchasing an additional 61,167 shares in the last quarter. Eagle Boston Investment Management Inc. raised its holdings in World Wrestling Entertainment by 100.8% in the second quarter. Eagle Boston Investment Management Inc. now owns 916,673 shares of the company’s stock worth $19,516,000 after purchasing an additional 460,117 shares in the last quarter. Northern Trust Corp raised its holdings in World Wrestling Entertainment by 6.3% in the second quarter. Northern Trust Corp now owns 516,923 shares of the company’s stock worth $10,529,000 after purchasing an additional 30,596 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in World Wrestling Entertainment by 6.0% in the second quarter. Balyasny Asset Management LLC now owns 443,437 shares of the company’s stock worth $9,033,000 after purchasing an additional 24,967 shares in the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.
World Wrestling Entertainment, Inc. (WWE) opened at $27.54 on Monday. World Wrestling Entertainment, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $27.79. The company has a current ratio of 2.68, a quick ratio of 2.62 and a debt-to-equity ratio of 0.83. The stock has a market cap of $2,123.53, a PE ratio of 51.96, a PEG ratio of 2.49 and a beta of 0.86.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $176.19 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. sell-side analysts forecast that World Wrestling Entertainment, Inc. will post 0.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.74%. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 106.67%.
A number of brokerages have commented on WWE. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. BidaskClub downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. ValuEngine upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of World Wrestling Entertainment in a report on Tuesday, October 17th. Finally, Benchmark Co. reiterated a “buy” rating and issued a $25.00 target price (down from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $25.25.
In related news, insider Basil V. Jr. Devito sold 25,537 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $21.59, for a total value of $551,343.83. Following the sale, the insider now owns 65,616 shares in the company, valued at $1,416,649.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mark Kowal sold 2,275 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $21.99, for a total value of $50,027.25. Following the completion of the sale, the senior vice president now owns 14,736 shares in the company, valued at approximately $324,044.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,899 shares of company stock worth $2,153,189. Corporate insiders own 49.80% of the company’s stock.
About World Wrestling Entertainment
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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