United Services Automobile Association raised its stake in World Wrestling Entertainment, Inc. (NYSE:WWE) by 16.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,568 shares of the company’s stock after buying an additional 922 shares during the period. United Services Automobile Association’s holdings in World Wrestling Entertainment were worth $478,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in World Wrestling Entertainment by 48.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,318,100 shares of the company’s stock worth $241,624,000 after buying an additional 1,083,700 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position in World Wrestling Entertainment by 72.0% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,855,865 shares of the company’s stock worth $135,144,000 after buying an additional 776,979 shares during the period. Davidson Kempner Capital Management LP acquired a new position in shares of World Wrestling Entertainment during the second quarter worth $21,846,000. BlackRock Inc. lifted its holdings in shares of World Wrestling Entertainment by 3.1% during the second quarter. BlackRock Inc. now owns 5,788,064 shares of the company’s stock worth $421,486,000 after purchasing an additional 172,587 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of World Wrestling Entertainment by 51.9% during the second quarter. Millennium Management LLC now owns 502,828 shares of the company’s stock worth $36,616,000 after purchasing an additional 171,729 shares during the period. Hedge funds and other institutional investors own 61.72% of the company’s stock.
In other World Wrestling Entertainment news, insider Kevin Dunn sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $79.18, for a total value of $7,918,000.00. Following the transaction, the insider now directly owns 258,674 shares of the company’s stock, valued at $20,481,807.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider George A. Barrios sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $96.22, for a total value of $4,811,000.00. Following the completion of the transaction, the insider now directly owns 173,661 shares in the company, valued at $16,709,661.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 353,996 shares of company stock worth $29,322,438. 45.10% of the stock is owned by company insiders.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, October 25th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.16. World Wrestling Entertainment had a net margin of 5.93% and a return on equity of 24.64%. On average, equities research analysts expect that World Wrestling Entertainment, Inc. will post 0.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 14th will be issued a $0.12 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.48 annualized dividend and a yield of 0.63%. World Wrestling Entertainment’s payout ratio is 73.85%.
WWE has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of World Wrestling Entertainment from $69.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 27th. Morgan Stanley lifted their price target on shares of World Wrestling Entertainment from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Zacks Investment Research downgraded World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Monday, July 30th. JPMorgan Chase & Co. lifted their target price on World Wrestling Entertainment from $77.00 to $84.00 and gave the stock a “hold” rating in a report on Friday, July 27th. Finally, Wells Fargo & Co lifted their target price on World Wrestling Entertainment to $97.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $87.00.
World Wrestling Entertainment Company Profile
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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