Paloma Partners Management Co Increases Stock Holdings in World Wrestling Entertainment, Inc. (NYSE:WWE)

Paloma Partners Management Co raised its stake in World Wrestling Entertainment, Inc. (NYSE:WWE) by 2,079.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 128,057 shares of the company’s stock after acquiring an additional 122,181 shares during the period. Paloma Partners Management Co’s holdings in World Wrestling Entertainment were worth $9,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Crosspoint Capital Strategies LLC purchased a new position in shares of World Wrestling Entertainment in the 1st quarter valued at approximately $1,594,000. Tech Square Trading LP purchased a new position in shares of World Wrestling Entertainment in the 1st quarter valued at approximately $271,000. Creative Planning grew its stake in shares of World Wrestling Entertainment by 3.4% in the 2nd quarter. Creative Planning now owns 15,057 shares of the company’s stock valued at $1,087,000 after purchasing an additional 502 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of World Wrestling Entertainment by 81.8% in the 1st quarter. Federated Investors Inc. PA now owns 162,458 shares of the company’s stock valued at $14,098,000 after purchasing an additional 73,095 shares during the last quarter. Finally, KCL Capital L.P. grew its stake in shares of World Wrestling Entertainment by 341.7% in the 1st quarter. KCL Capital L.P. now owns 265,000 shares of the company’s stock valued at $22,996,000 after purchasing an additional 205,000 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Shares of World Wrestling Entertainment stock traded down $0.54 during trading on Thursday, reaching $73.05. The company’s stock had a trading volume of 35,743 shares, compared to its average volume of 839,412. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.13. World Wrestling Entertainment, Inc. has a 12-month low of $58.50 and a 12-month high of $100.45. The company has a market capitalization of $5.83 billion, a P/E ratio of 65.11 and a beta of 1.33. The business has a 50 day moving average price of $71.11 and a 200-day moving average price of $78.69.



World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, July 25th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.14. The company had revenue of $268.90 million for the quarter, compared to the consensus estimate of $271.21 million. World Wrestling Entertainment had a return on equity of 23.92% and a net margin of 8.42%. World Wrestling Entertainment’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. Research analysts predict that World Wrestling Entertainment, Inc. will post 0.99 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, September 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. World Wrestling Entertainment’s payout ratio is 42.86%.

A number of research firms recently weighed in on WWE. ValuEngine upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Rosenblatt Securities began coverage on World Wrestling Entertainment in a research note on Wednesday, August 14th. They issued a “buy” rating and a $85.00 price target on the stock. Benchmark upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Friday, July 26th. Guggenheim restated a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of World Wrestling Entertainment in a research note on Tuesday, June 25th. Finally, Morgan Stanley decreased their price target on World Wrestling Entertainment from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $99.92.

In other World Wrestling Entertainment news, insider Kevin Dunn sold 14,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $73.40, for a total transaction of $1,027,600.00. Following the sale, the insider now directly owns 135,059 shares in the company, valued at $9,913,330.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michelle D. Wilson sold 158,134 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $69.30, for a total value of $10,958,686.20. Following the sale, the insider now owns 41,508 shares in the company, valued at $2,876,504.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,047 shares of company stock worth $17,794,397. 43.90% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for World Wrestling Entertainment (NYSE:WWE)

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