World Wrestling Entertainment, Inc. (NYSE:WWE) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 9,310,000 shares, a decline of 7.5% from the September 30th total of 10,060,000 shares. Approximately 20.0% of the company’s shares are sold short. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is presently 7.3 days.
Several research firms have recently commented on WWE. FBN Securities raised World Wrestling Entertainment from a “sector perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research report on Friday, October 11th. MKM Partners set a $110.00 price objective on World Wrestling Entertainment and gave the company a “buy” rating in a report on Friday, October 18th. Morgan Stanley set a $80.00 target price on World Wrestling Entertainment and gave the stock an “overweight” rating in a research note on Friday, November 1st. Loop Capital lowered their target price on World Wrestling Entertainment from $100.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Benchmark lowered their target price on World Wrestling Entertainment from $90.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $90.31.
Several large investors have recently bought and sold shares of WWE. North Star Investment Management Corp. acquired a new stake in shares of World Wrestling Entertainment in the third quarter valued at approximately $71,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of World Wrestling Entertainment in the second quarter valued at approximately $97,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of World Wrestling Entertainment by 13.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,831 shares of the company’s stock valued at $130,000 after purchasing an additional 224 shares during the last quarter. AMP Capital Investors Ltd acquired a new stake in shares of World Wrestling Entertainment in the second quarter valued at approximately $218,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of World Wrestling Entertainment by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,032 shares of the company’s stock valued at $219,000 after purchasing an additional 309 shares during the last quarter. 71.99% of the stock is owned by hedge funds and other institutional investors.
World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. The company had revenue of $186.30 million for the quarter, compared to the consensus estimate of $192.19 million. World Wrestling Entertainment had a return on equity of 15.29% and a net margin of 5.38%. World Wrestling Entertainment’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. On average, research analysts predict that World Wrestling Entertainment will post 0.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Friday, December 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.83%. World Wrestling Entertainment’s dividend payout ratio is presently 42.86%.
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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