Formula Growth Ltd. lessened its position in World Wrestling Entertainment, Inc. (NYSE:WWE) by 43.4% during the second quarter, Holdings Channel reports. The institutional investor owned 26,600 shares of the company’s stock after selling 20,400 shares during the quarter. Formula Growth Ltd.’s holdings in World Wrestling Entertainment were worth $1,937,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its position in World Wrestling Entertainment by 3.1% in the 2nd quarter. BlackRock Inc. now owns 5,788,064 shares of the company’s stock valued at $421,486,000 after buying an additional 172,587 shares during the last quarter. Renaissance Technologies LLC raised its position in World Wrestling Entertainment by 48.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,318,100 shares of the company’s stock valued at $241,624,000 after buying an additional 1,083,700 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in World Wrestling Entertainment by 72.0% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,855,865 shares of the company’s stock valued at $135,144,000 after buying an additional 776,979 shares during the last quarter. Dimensional Fund Advisors LP raised its position in World Wrestling Entertainment by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 504,577 shares of the company’s stock valued at $36,745,000 after buying an additional 12,953 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in World Wrestling Entertainment by 14.0% in the 2nd quarter. Wells Fargo & Company MN now owns 477,115 shares of the company’s stock valued at $34,743,000 after buying an additional 58,613 shares during the last quarter. 61.52% of the stock is currently owned by institutional investors and hedge funds.
NYSE:WWE opened at $86.06 on Thursday. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 132.40 and a beta of 0.97. World Wrestling Entertainment, Inc. has a twelve month low of $21.22 and a twelve month high of $88.95. The company has a current ratio of 1.34, a quick ratio of 1.31 and a debt-to-equity ratio of 0.10.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, July 26th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The company 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 revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. research analysts forecast that World Wrestling Entertainment, Inc. will post 0.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 25th. Shareholders of record on Friday, September 14th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Thursday, September 13th. World Wrestling Entertainment’s dividend payout ratio (DPR) is 73.85%.
A number of brokerages recently issued reports on WWE. JPMorgan Chase & Co. lifted their target price on World Wrestling Entertainment to $46.00 and gave the company a “neutral” rating in a research report on Friday, May 18th. KeyCorp reissued an “overweight” rating and issued a $85.00 target price (up previously from $71.00) on shares of World Wrestling Entertainment in a research report on Wednesday, June 27th. Needham & Company LLC lifted their target price on World Wrestling Entertainment from $45.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, May 22nd. Morgan Stanley boosted their price target on World Wrestling Entertainment from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Monday, July 16th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $86.27.
In related news, CAO Mark Kowal sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $79.45, for a total transaction of $198,625.00. Following the transaction, the chief accounting officer now directly owns 14,872 shares of the company’s stock, valued at approximately $1,181,580.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider George A. Barrios sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $83.34, for a total value of $333,360.00. Following the transaction, the insider now directly owns 474,755 shares in the company, valued at $39,566,081.70. The disclosure for this sale can be found here. Insiders have sold a total of 276,496 shares of company stock worth $22,119,588 in the last ninety days. Insiders own 45.10% of the company’s stock.
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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.
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