Renaissance Technologies LLC Raises Position in World Wrestling Entertainment, Inc. (WWE)

Share on StockTwits

Renaissance Technologies LLC boosted its stake in World Wrestling Entertainment, Inc. (NYSE:WWE) by 48.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,318,100 shares of the company’s stock after buying an additional 1,083,700 shares during the quarter. Renaissance Technologies LLC owned approximately 4.26% of World Wrestling Entertainment worth $241,624,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WWE. Creative Planning raised its holdings in World Wrestling Entertainment by 4.6% in the 2nd quarter. Creative Planning now owns 14,038 shares of the company’s stock valued at $1,022,000 after acquiring an additional 623 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in World Wrestling Entertainment by 3.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 19,161 shares of the company’s stock valued at $1,395,000 after acquiring an additional 700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in World Wrestling Entertainment by 48.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,246 shares of the company’s stock valued at $164,000 after acquiring an additional 734 shares during the last quarter. Amalgamated Bank raised its holdings in World Wrestling Entertainment by 13.2% in the 2nd quarter. Amalgamated Bank now owns 6,849 shares of the company’s stock valued at $499,000 after acquiring an additional 797 shares during the last quarter. Finally, Piedmont Investment Advisors LLC raised its holdings in World Wrestling Entertainment by 9.5% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 9,359 shares of the company’s stock valued at $682,000 after acquiring an additional 812 shares during the last quarter. 61.52% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE WWE opened at $88.75 on Wednesday. The company has a market cap of $6.82 billion, a PE ratio of 136.54 and a beta of 0.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.34 and a quick ratio of 1.31. World Wrestling Entertainment, Inc. has a 1 year low of $21.22 and a 1 year high of $88.95.

World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings results on Thursday, July 26th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The firm had revenue of $281.60 million for the quarter, compared to analyst estimates of $240.30 million. World Wrestling Entertainment had a return on equity of 24.64% and a net margin of 5.93%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 EPS. sell-side analysts expect that World Wrestling Entertainment, Inc. will post 0.87 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 25th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. World Wrestling Entertainment’s dividend payout ratio is currently 73.85%.

WWE has been the subject of a number of recent research reports. Guggenheim increased their price objective on shares of World Wrestling Entertainment to $82.00 and gave the company an “average” rating in a report on Wednesday, June 27th. Needham & Company LLC increased their price objective on shares of World Wrestling Entertainment to $80.00 and gave the company a “buy” rating in a report on Thursday, June 28th. KeyCorp reiterated a “buy” rating and issued a $71.00 price objective (up previously from $49.00) on shares of World Wrestling Entertainment in a report on Monday, June 4th. MKM Partners increased their price objective on shares of World Wrestling Entertainment to $68.00 and gave the company a “buy” rating in a report on Tuesday, May 22nd. Finally, BTIG Research increased their price objective on shares of World Wrestling Entertainment from $75.00 to $92.00 and gave the company a “buy” rating in a report on Friday, July 6th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. World Wrestling Entertainment presently has an average rating of “Buy” and a consensus price target of $86.27.

In related news, insider Michael J. Luisi sold 12,461 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $79.01, for a total transaction of $984,543.61. Following the completion of the transaction, the insider now owns 69,046 shares of the company’s stock, valued at approximately $5,455,324.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank A. Riddick III sold 6,300 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $80.86, for a total transaction of $509,418.00. Following the transaction, the director now directly owns 30,732 shares of the company’s stock, valued at approximately $2,484,989.52. The disclosure for this sale can be found here. Insiders have sold a total of 276,496 shares of company stock valued at $22,119,588 in the last 90 days. Insiders own 45.10% of the company’s stock.

World Wrestling Entertainment 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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.

Featured Story: Marijuana Stocks

Want to see what other hedge funds are holding WWE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for World Wrestling Entertainment, Inc. (NYSE:WWE).

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

Receive News & Ratings for World Wrestling Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Wrestling Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply