World Wrestling Entertainment, Inc. (NYSE: WWE – Get Rating) hit a new 52-week high during mid-day trading on Wednesday after Morgan Stanley raised their price target on the stock from $ 60.00 to $ 75.00. Morgan Stanley currently has an equal weight rating on the stock. World Wrestling Entertainment traded as high as $ 68.73 and last traded at $ 67.18, with a volume of 2126196 shares trading hands. The stock had previously closed at $ 64.01.
WWE has been the topic of several other research reports. StockNews.com initiated coverage on shares of World Wrestling Entertainment in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Barclays boosted their price objective on shares of World Wrestling Entertainment from $ 55.00 to $ 57.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 7th. TheStreet raised shares of World Wrestling Entertainment from a “c +” rating to a “b-” rating in a research note on Monday, May 16th. JPMorgan Chase & Co. boosted their price objective on shares of World Wrestling Entertainment from $ 58.00 to $ 64.00 in a research note on Thursday, April 21st. Finally, Wolfe Research boosted their price target on shares of World Wrestling Entertainment from $ 57.00 to $ 68.00 and gave the stock a “peer perform” rating in a research note on Thursday, June 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $ 66.00.
In other news, insider Kevin Dunn sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $ 66.70, for a total value of $ 1,000,500.00. Following the completion of the sale, the insider now owns 271,171 shares in the company, valued at approximately $ 18,087,105.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bradley Blum sold 9,800 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $ 60.14, for a total transaction of $ 589,372.00. The disclosure for this sale can be found here. Corporate insiders own 41.40% of the company stock.
Institutional investors have recently added to or reduced their stakes in the company. Man Group plc lifted its holdings in shares of World Wrestling Entertainment by 3.8% in the 3rd quarter. Man Group plc now owns 133,613 shares of the company stock worth $ 7,517,000 after acquiring an additional 4,912 shares during the last quarter. FDx Advisors Inc. increased its stake in World Wrestling Entertainment by 9.3% in the 4th quarter. FDx Advisors Inc. now owns 4,964 shares of the company stock worth $ 245,000 after buying an additional 421 shares during the period. New York State Teachers Retirement System increased its stake in World Wrestling Entertainment by 11.2% in the 4th quarter. New York State Teachers Retirement System now owns 53,687 shares of the company stock worth $ 2,649,000 after buying an additional 5,390 shares during the period. Qube Research & Technologies Ltd purchased a new position in World Wrestling Entertainment in the 4th quarter worth about $ 11,283,000. Finally, WINTON GROUP Ltd increased its position in World Wrestling Entertainment by 24.1% during the 4th quarter. WINTON GROUP Ltd now owns 51,488 shares of the company stock valued at $ 2,540,000 after purchasing an additional 9,985 shares during the period. Hedge funds and other institutional investors own 70.21% of the company stock.
The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.97. The firm has a market cap of $ 4.99 billion, a PE ratio of 28.11 and a beta of 1.23. The business’s 50-day simple moving average is $ 61.87 and its 200 day simple moving average is $ 56.63.
World Wrestling Entertainment (NYSE: WWE – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $ 0.77 EPS for the quarter, beating analysts’ consensus estimates of $ 0.68 by $ 0.09. World Wrestling Entertainment had a net margin of 17.40% and a return on equity of 53.60%. The business had revenue of $ 333.40 million for the quarter, compared to the consensus estimate of $ 325.70 million. During the same quarter last year, the firm posted $ 0.51 EPS. The company revenue for the quarter was up 26.5% on a year-over-year basis. Analysts expect that World Wrestling Entertainment, Inc. will post 2.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 27th. Stockholders of record on Wednesday, June 15th will be issued a $ 0.12 dividend. This represents a $ 0.48 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, June 14th. World Wrestling Entertainment’s dividend payout ratio is currently 20.08%.
World Wrestling Entertainment Company Profile: (NYSE: WWE)
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 through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment.
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