World Wrestling Entertainment (WWE) Price Target Cut to $95.00 by Analysts at Morgan Stanley

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World Wrestling Entertainment (NYSE:WWE) had its price target lowered by research analysts at Morgan Stanley from $105.00 to $95.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 40.76% from the stock’s previous close.

A number of other research firms also recently weighed in on WWE. Cannonball Research raised World Wrestling Entertainment to a “buy” rating and set a $95.00 price target on the stock in a research note on Thursday, October 11th. Wells Fargo & Co increased their price objective on World Wrestling Entertainment to $97.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Needham & Company LLC increased their price objective on World Wrestling Entertainment from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Citigroup increased their price objective on World Wrestling Entertainment from $69.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, August 27th. Finally, JPMorgan Chase & Co. increased their price objective on World Wrestling Entertainment from $77.00 to $84.00 and gave the stock a “hold” rating in a research note on Friday, July 27th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $85.25.

WWE stock traded up $1.33 during trading on Tuesday, reaching $67.49. 68,308 shares of the stock were exchanged, compared to its average volume of 1,483,528. World Wrestling Entertainment has a twelve month low of $24.85 and a twelve month high of $97.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.23 and a current ratio of 1.26. The company has a market cap of $5.44 billion, a P/E ratio of 103.95 and a beta of 0.97.

World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.18. World Wrestling Entertainment had a return on equity of 27.69% and a net margin of 7.27%. The business had revenue of $188.40 million for the quarter, compared to the consensus estimate of $203.08 million. Equities analysts predict that World Wrestling Entertainment will post 0.87 earnings per share for the current year.

In other World Wrestling Entertainment news, Director Frank A. Riddick III sold 6,300 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $80.86, for a total transaction of $509,418.00. Following the completion of the transaction, the director now directly owns 30,732 shares of the company’s stock, valued at $2,484,989.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mark Kowal sold 2,500 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $79.45, for a total value of $198,625.00. Following the transaction, the chief accounting officer now directly owns 14,872 shares of the company’s stock, valued at $1,181,580.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,996 shares of company stock valued at $21,404,438. 45.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in shares of World Wrestling Entertainment by 48.5% in the second quarter. Renaissance Technologies LLC now owns 3,318,100 shares of the company’s stock worth $241,624,000 after acquiring an additional 1,083,700 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in World Wrestling Entertainment by 72.0% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,855,865 shares of the company’s stock valued at $135,144,000 after buying an additional 776,979 shares during the period. Davidson Kempner Capital Management LP bought a new stake in World Wrestling Entertainment during the second quarter valued at $21,846,000. BlackRock Inc. boosted its stake in World Wrestling Entertainment by 3.1% during the second quarter. BlackRock Inc. now owns 5,788,064 shares of the company’s stock valued at $421,486,000 after buying an additional 172,587 shares during the period. Finally, Millennium Management LLC boosted its stake in World Wrestling Entertainment by 51.9% during the second quarter. Millennium Management LLC now owns 502,828 shares of the company’s stock valued at $36,616,000 after buying an additional 171,729 shares during the period. 61.70% of the stock is owned by institutional investors and hedge funds.

About World Wrestling Entertainment

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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.

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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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