Majedie Asset Management Ltd Has $2.68 Million Stake in World Wrestling Entertainment, Inc. (WWE)

Majedie Asset Management Ltd lowered its stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 82.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 113,805 shares of the company’s stock after selling 546,663 shares during the quarter. Majedie Asset Management Ltd owned 0.15% of World Wrestling Entertainment worth $2,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WWE. Pinebridge Investments L.P. grew its position in World Wrestling Entertainment by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock valued at $104,000 after acquiring an additional 51 shares during the last quarter. State of Alaska Department of Revenue grew its position in World Wrestling Entertainment by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,601 shares of the company’s stock valued at $154,000 after acquiring an additional 3,351 shares during the last quarter. FDx Advisors Inc. bought a new position in World Wrestling Entertainment in the 3rd quarter valued at $219,000. Summit Securities Group LLC bought a new position in World Wrestling Entertainment in the 3rd quarter valued at $236,000. Finally, NGAM Advisors L.P. bought a new position in World Wrestling Entertainment in the 2nd quarter valued at $207,000. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Blake Timothy Bilstad sold 1,801 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total transaction of $47,546.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Kowal sold 2,275 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $21.99, for a total value of $50,027.25. Following the sale, the senior vice president now owns 14,736 shares of the company’s stock, valued at $324,044.64. The disclosure for this sale can be found here. Insiders sold a total of 29,613 shares of company stock valued at $648,917 over the last quarter. Company insiders own 49.80% of the company’s stock.

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Several brokerages have commented on WWE. Benchmark Co. upped their price objective on World Wrestling Entertainment from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Monday, October 30th. FBN Securities downgraded World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research report on Monday, October 30th. KeyCorp reaffirmed a “hold” rating on shares of World Wrestling Entertainment in a research report on Tuesday, October 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a research report on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $25.25.

Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) traded down $0.18 during mid-day trading on Friday, hitting $27.56. The company’s stock had a trading volume of 317,700 shares, compared to its average volume of 549,807. World Wrestling Entertainment, Inc. has a twelve month low of $18.00 and a twelve month high of $28.00. The stock has a market cap of $2,125.07, a PE ratio of 52.00, a price-to-earnings-growth ratio of 2.49 and a beta of 0.86. The company has a quick ratio of 2.62, a current ratio of 2.68 and a debt-to-equity ratio of 0.83.

World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. The business had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $176.19 million. During the same period in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. analysts forecast that World Wrestling Entertainment, Inc. will post 0.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Friday, December 15th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, December 14th. World Wrestling Entertainment’s dividend payout ratio is 106.67%.

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.

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

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