State Street Corp lifted its stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,084,051 shares of the company’s stock after purchasing an additional 21,682 shares during the quarter. State Street Corp owned 1.38% of World Wrestling Entertainment worth $77,130,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Lindsell Train Ltd increased its holdings in World Wrestling Entertainment by 20.2% in the 2nd quarter. Lindsell Train Ltd now owns 7,168,643 shares of the company’s stock worth $518,436,000 after purchasing an additional 1,205,461 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of World Wrestling Entertainment by 5,475.0% during the second quarter. Nuveen Asset Management LLC now owns 966,210 shares of the company’s stock valued at $69,770,000 after purchasing an additional 948,879 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of World Wrestling Entertainment by 190.2% during the second quarter. APG Asset Management N.V. now owns 765,600 shares of the company’s stock worth $48,546,000 after purchasing an additional 501,800 shares during the last quarter. Hoplite Capital Management L.P. grew its holdings in shares of World Wrestling Entertainment by 160.4% during the second quarter. Hoplite Capital Management L.P. now owns 464,685 shares of the company’s stock worth $33,555,000 after purchasing an additional 286,212 shares during the last quarter. Finally, Balyasny Asset Management LLC grew its holdings in shares of World Wrestling Entertainment by 358.5% during the second quarter. Balyasny Asset Management LLC now owns 351,617 shares of the company’s stock worth $25,390,000 after purchasing an additional 274,922 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Wells Fargo & Co cut their target price on shares of World Wrestling Entertainment from $94.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Wolfe Research set a $97.00 target price on shares of World Wrestling Entertainment and gave the stock a “buy” rating in a report on Friday, November 1st. Loop Capital restated a “buy” rating and issued a $80.00 price target on shares of World Wrestling Entertainment in a research report on Tuesday, December 3rd. Finally, Citigroup raised shares of World Wrestling Entertainment from a “neutral” rating to a “buy” rating and dropped their price target for the company from $79.00 to $73.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $90.63.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.07. The firm had revenue of $186.30 million during the quarter, compared to analyst estimates of $192.19 million. World Wrestling Entertainment had a net margin of 5.38% and a return on equity of 15.29%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. As a group, research analysts expect that World Wrestling Entertainment, Inc. will post 0.9 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Friday, December 13th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Thursday, December 12th. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 42.86%.
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. 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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