Robeco Institutional Asset Management B.V. purchased a new position in World Wrestling Entertainment, Inc. (NYSE:WWE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,292 shares of the company’s stock, valued at approximately $222,000.
A number of other institutional investors also recently made changes to their positions in WWE. Renaissance Technologies LLC increased its stake 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 worth $241,624,000 after purchasing an additional 1,083,700 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake 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 worth $135,144,000 after purchasing an additional 776,979 shares during the period. Davidson Kempner Capital Management LP purchased a new position in World Wrestling Entertainment in the 2nd quarter worth approximately $21,846,000. BlackRock Inc. increased its stake in World Wrestling Entertainment by 3.1% in the 2nd quarter. BlackRock Inc. now owns 5,788,064 shares of the company’s stock worth $421,486,000 after purchasing an additional 172,587 shares during the period. Finally, Millennium Management LLC increased its stake in World Wrestling Entertainment by 51.9% in the 2nd quarter. Millennium Management LLC now owns 502,828 shares of the company’s stock worth $36,616,000 after purchasing an additional 171,729 shares during the period. 61.57% of the stock is currently owned by institutional investors and hedge funds.
WWE has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on World Wrestling Entertainment from $77.00 to $84.00 and gave the company a “hold” rating in a research note on Friday, July 27th. Morgan Stanley reduced their target price on World Wrestling Entertainment from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 30th. Citigroup boosted their target price on World Wrestling Entertainment from $69.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 27th. Wells Fargo & Co boosted their target price on World Wrestling Entertainment to $97.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. Finally, KeyCorp reissued a “buy” rating on shares of World Wrestling Entertainment in a research note on Friday, October 26th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $85.25.
In related news, insider George A. Barrios sold 90,685 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $80.67, for a total value of $7,315,558.95. Following the sale, the insider now directly owns 496,723 shares of the company’s stock, valued at $40,070,644.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark Kowal sold 2,500 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $83.03, for a total value of $207,575.00. Following the completion of the sale, the chief accounting officer now directly owns 12,372 shares in the company, valued at $1,027,247.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,446 shares of company stock worth $16,396,273. 45.10% of the stock is owned by insiders.
WWE opened at $70.07 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.23 and a current ratio of 1.26. World Wrestling Entertainment, Inc. has a 52-week low of $26.91 and a 52-week high of $97.69. The company has a market cap of $5.70 billion, a PE ratio of 107.80 and a beta of 1.18.
World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, October 25th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.18. World Wrestling Entertainment had a return on equity of 27.69% and a net margin of 7.27%. The firm had revenue of $188.40 million for the quarter, compared to analysts’ expectations of $203.08 million. As a group, equities analysts anticipate that World Wrestling Entertainment, Inc. will post 0.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 73.85%.
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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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