Summit Securities Group LLC acquired a new position in World Wrestling Entertainment, Inc. (NYSE:WWE) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,000 shares of the company’s stock, valued at approximately $236,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. EastBay Asset Management LLC raised its stake in shares of World Wrestling Entertainment by 153.2% in the 2nd quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock worth $27,237,000 after buying an additional 809,130 shares in the last quarter. NGAM Advisors L.P. bought a new stake in shares of World Wrestling Entertainment in the 2nd quarter worth $207,000. Prudential Financial Inc. raised its stake in shares of World Wrestling Entertainment by 0.6% in the 1st quarter. Prudential Financial Inc. now owns 65,268 shares of the company’s stock worth $1,450,000 after buying an additional 400 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of World Wrestling Entertainment by 84.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 414,161 shares of the company’s stock worth $8,436,000 after buying an additional 189,486 shares in the last quarter. Finally, Davidson Kempner Capital Management LP raised its stake in shares of World Wrestling Entertainment by 286.7% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 725,000 shares of the company’s stock worth $14,768,000 after buying an additional 537,500 shares in the last quarter. 49.47% of the stock is currently owned by institutional investors.
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WWE has been the topic of a number of research reports. ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, September 12th. Benchmark Co. boosted their price objective on World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday. FBN Securities downgraded World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research note on Monday. Finally, KeyCorp reissued a “hold” rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $25.25.
In related news, insider Kevin Dunn sold 72,286 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $20.81, for a total transaction of $1,504,271.66. Following the sale, the insider now owns 379,559 shares of the company’s stock, valued at approximately $7,898,622.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Blake Timothy Bilstad sold 1,801 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total value of $47,546.40. The disclosure for this sale can be found here. In the last three months, insiders sold 106,649 shares of company stock worth $2,255,029. 49.80% of the stock is currently owned by company insiders.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.08. The company had revenue of $186.40 million for the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Friday, December 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, December 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 106.67%.
World Wrestling Entertainment Profile
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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