World Wrestling Entertainment (NYSE:WWE) Rating Reiterated by Needham & Company LLC

World Wrestling Entertainment (NYSE:WWE)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Friday, AnalystRatings.com reports. They presently have a $50.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 7.27% from the company’s previous close.

WWE has been the subject of a number of other reports. MKM Partners lifted their price objective on shares of World Wrestling Entertainment from $48.00 to $52.00 in a report on Friday, April 24th. Zacks Investment Research downgraded World Wrestling Entertainment from a “strong-buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Saturday, June 27th. Loop Capital boosted their price objective on World Wrestling Entertainment from $30.00 to $37.00 in a report on Friday, July 10th. Wells Fargo & Co restated a “sell” rating on shares of World Wrestling Entertainment in a report on Thursday. Finally, Morgan Stanley cut their target price on World Wrestling Entertainment from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. World Wrestling Entertainment has a consensus rating of “Buy” and an average target price of $57.13.

Shares of World Wrestling Entertainment stock opened at $46.61 on Friday. The stock has a market capitalization of $3.52 billion, a PE ratio of 27.91 and a beta of 1.49. World Wrestling Entertainment has a 52 week low of $29.10 and a 52 week high of $76.44. The stock has a 50 day moving average price of $45.00 and a two-hundred day moving average price of $45.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.29 and a current ratio of 1.31.

World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.37. The company had revenue of $223.40 million for the quarter, compared to analysts’ expectations of $228.89 million. World Wrestling Entertainment had a return on equity of 50.91% and a net margin of 14.18%. Research analysts forecast that World Wrestling Entertainment will post 1.33 EPS for the current year.

In related news, EVP Paul Levesque sold 23,255 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 40.20% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Raymond James & Associates purchased a new position in World Wrestling Entertainment in the fourth quarter valued at approximately $293,000. UBS Asset Management Americas Inc. raised its stake in shares of World Wrestling Entertainment by 4.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 59,521 shares of the company’s stock valued at $3,861,000 after buying an additional 2,426 shares during the period. Mason Street Advisors LLC lifted its position in shares of World Wrestling Entertainment by 1.2% during the 4th quarter. Mason Street Advisors LLC now owns 25,242 shares of the company’s stock valued at $1,637,000 after buying an additional 300 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of World Wrestling Entertainment by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 513,754 shares of the company’s stock worth $33,327,000 after acquiring an additional 19,497 shares during the period. Finally, Verus Capital Partners LLC bought a new position in shares of World Wrestling Entertainment during the 4th quarter worth $68,000. 72.70% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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