Bank of America Corp DE raised its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 107.8% during the first quarter, Holdings Channel reports. The institutional investor owned 60,635 shares of the company’s stock after buying an additional 31,451 shares during the period. Bank of America Corp DE’s holdings in World Wrestling Entertainment were worth $1,347,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its position in World Wrestling Entertainment by 4.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock worth $195,000 after buying an additional 380 shares in the last quarter. Mason Street Advisors LLC increased its position in World Wrestling Entertainment by 7.1% in the first quarter. Mason Street Advisors LLC now owns 9,003 shares of the company’s stock worth $200,000 after buying an additional 600 shares in the last quarter. Karp Capital Management Corp acquired a new position in World Wrestling Entertainment during the first quarter worth $228,000. UBS Asset Management Americas Inc. acquired a new position in World Wrestling Entertainment during the first quarter worth $229,000. Finally, Louisiana State Employees Retirement System increased its position in World Wrestling Entertainment by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the company’s stock worth $349,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 50.11% of the company’s stock.
Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) traded down 1.28% during mid-day trading on Friday, hitting $20.83. 58,717 shares of the stock traded hands. The company’s 50 day moving average is $21.01 and its 200 day moving average is $20.90. World Wrestling Entertainment, Inc. has a one year low of $16.77 and a one year high of $23.14. The firm has a market capitalization of $1.61 billion, a P/E ratio of 63.51 and a beta of 0.82.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. World Wrestling Entertainment had a net margin of 3.29% and a return on equity of 13.07%. The business had revenue of $214.60 million for the quarter, compared to analyst estimates of $209.28 million. During the same period last year, the firm earned $0.01 earnings per share. World Wrestling Entertainment’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts expect that World Wrestling Entertainment, Inc. will post $0.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, September 14th. World Wrestling Entertainment’s dividend payout ratio is 154.84%.
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Several brokerages recently commented on WWE. BidaskClub downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Benchmark Co. reiterated a “buy” rating and issued a $25.00 target price (down previously from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, July 31st. ValuEngine upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Morgan Stanley began coverage on shares of World Wrestling Entertainment in a report on Friday, June 30th. They issued an “equal weight” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. World Wrestling Entertainment presently has a consensus rating of “Hold” and an average price target of $24.38.
In related news, SVP Mark Kowal sold 4,750 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $21.44, for a total transaction of $101,840.00. Following the transaction, the senior vice president now directly owns 17,011 shares of the company’s stock, valued at $364,715.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Michelle D. Wilson sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $21.25, for a total transaction of $1,168,750.00. Following the transaction, the executive now directly owns 436,174 shares in the company, valued at $9,268,697.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,133 shares of company stock worth $1,554,711. 49.80% of the stock is owned by insiders.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.
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