World Wrestling Entertainment, Inc. (NYSE:WWE)‘s stock had its “hold” rating reiterated by research analysts at KeyCorp in a research note issued to investors on Tuesday.
Several other research firms have also issued reports on WWE. Zacks Investment Research raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Benchmark Co. reissued a “buy” rating and set a $25.00 price objective (down previously from $26.00) on shares of World Wrestling Entertainment in a research note on Sunday, July 30th. BidaskClub lowered World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a research note on Tuesday, September 26th. Finally, ValuEngine lowered World Wrestling Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $24.38.
Shares of World Wrestling Entertainment (NYSE WWE) opened at 22.54 on Tuesday. World Wrestling Entertainment has a 12 month low of $16.77 and a 12 month high of $23.88. The company’s 50 day moving average price is $22.61 and its 200 day moving average price is $21.28. The company has a market capitalization of $1.74 billion, a P/E ratio of 68.72 and a beta of 0.84.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $214.60 million during the quarter, compared to analyst estimates of $209.28 million. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. Analysts expect that World Wrestling Entertainment will post $0.46 EPS for the current fiscal year.
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In other World Wrestling Entertainment news, insider Basil V. Jr. Devito sold 25,537 shares of World Wrestling Entertainment stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $21.59, for a total transaction of $551,343.83. Following the completion of the sale, the insider now owns 65,616 shares of the company’s stock, valued at $1,416,649.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Casey Collins sold 13,383 shares of World Wrestling Entertainment stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $21.23, for a total value of $284,121.09. Following the sale, the executive vice president now directly owns 43,926 shares of the company’s stock, valued at approximately $932,548.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,231 shares of company stock valued at $3,660,354. Corporate insiders own 49.80% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. lifted its stake in World Wrestling Entertainment by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock worth $104,000 after purchasing an additional 51 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in World Wrestling Entertainment by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 7,601 shares of the company’s stock worth $154,000 after purchasing an additional 3,351 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in World Wrestling Entertainment by 4.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock worth $195,000 after purchasing an additional 380 shares during the last quarter. Mason Street Advisors LLC lifted its stake in World Wrestling Entertainment by 7.1% during the first quarter. Mason Street Advisors LLC now owns 9,003 shares of the company’s stock worth $200,000 after purchasing an additional 600 shares during the last quarter. Finally, NGAM Advisors L.P. bought a new stake in World Wrestling Entertainment during the second quarter worth about $207,000. 49.49% of the stock is owned by hedge funds and other institutional investors.
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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