Advisor Group Holdings Inc. purchased a new position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,673 shares of the company’s stock, valued at approximately $159,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Eminence Capital LP bought a new stake in shares of World Wrestling Entertainment during the 1st quarter valued at $56,759,000. Engineers Gate Manager LP bought a new stake in World Wrestling Entertainment in the first quarter valued at about $2,424,000. Squarepoint Ops LLC bought a new stake in shares of World Wrestling Entertainment in the 1st quarter valued at about $2,236,000. Tower Research Capital LLC TRC increased its stake in shares of World Wrestling Entertainment by 38.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,753 shares of the company’s stock valued at $229,000 after acquiring an additional 1,879 shares during the last quarter. Finally, Tudor Investment Corp Et Al bought a new stake in shares of World Wrestling Entertainment in the 1st quarter valued at about $1,241,000. 72.70% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Bradley Blum sold 16,358 shares of World Wrestling Entertainment stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $45.32, for a total value of $741,344.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Levesque sold 23,255 shares of World Wrestling Entertainment stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $43.80, for a total transaction of $1,018,569.00. The disclosure for this sale can be found here. Insiders sold a total of 72,613 shares of company stock valued at $3,260,094 in the last 90 days. 40.20% of the stock is owned by corporate insiders.
Shares of WWE opened at $44.72 on Friday. The stock has a market capitalization of $3.46 billion, a P/E ratio of 35.49 and a beta of 1.49. World Wrestling Entertainment, Inc. has a twelve month low of $29.10 and a twelve month high of $78.76. The company has a 50 day moving average of $45.42 and a 200-day moving average of $45.81. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 1.33.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, April 23rd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. The business had revenue of $291.00 million during the quarter, compared to the consensus estimate of $259.45 million. World Wrestling Entertainment had a net margin of 10.45% and a return on equity of 40.28%. The firm’s revenue for the quarter was up 59.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, sell-side analysts anticipate that World Wrestling Entertainment, Inc. will post 1.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 15th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, September 14th. World Wrestling Entertainment’s payout ratio is 56.47%.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of World Wrestling Entertainment from a “strong-buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research note on Saturday, June 27th. TheStreet upgraded shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research report on Wednesday, June 17th. Loop Capital upped their price objective on shares of World Wrestling Entertainment from $30.00 to $37.00 in a research report on Friday, July 10th. Needham & Company LLC increased their price target on World Wrestling Entertainment from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Benchmark increased their price target on World Wrestling Entertainment from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. World Wrestling Entertainment currently has a consensus rating of “Buy” and an average price target of $56.00.
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. It operates in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.
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