World Wrestling Entertainment, Inc. (NYSE:WWE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, July 13th.

According to Zacks, “Shares of World Wrestling Entertainment have outperformed the industry in the past six months. Recently, WWE and Groupe AB extended their partnership and signed multi-year agreement for airing WWE programming. However, continuous decline in pay-per-view and home entertainment revenues have been concerns. On the revenues front, the company continues to impress investors with second straight quarter of beat, when it reported first quarter results. WWE is executing a five-part strategy to strengthen and expand the WWE Network, which includes creating new content, implementing programs that will have higher customer attraction and retention power, introducing new features, expanding distribution platforms and entering into new regions. Of late estimates have been stable for the second quarter and full year 2017.”

Several other research firms have also recently issued reports on WWE. BTIG Research reaffirmed a “buy” rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a report on Sunday, April 2nd. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of World Wrestling Entertainment in a research report on Tuesday, April 4th. Citigroup Inc. began coverage on shares of World Wrestling Entertainment in a research report on Monday, March 27th. They set a “buy” rating and a $25.00 price target for the company. ValuEngine upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, TheStreet raised shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. World Wrestling Entertainment has a consensus rating of “Hold” and a consensus target price of $23.98.

World Wrestling Entertainment (WWE) traded up 2.64% during midday trading on Thursday, hitting $21.77. The stock had a trading volume of 1,167,020 shares. The firm has a 50-day moving average of $20.63 and a 200 day moving average of $20.62. The firm has a market capitalization of $1.66 billion, a P/E ratio of 80.63 and a beta of 0.82. World Wrestling Entertainment has a 52-week low of $16.77 and a 52-week high of $23.14.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, May 4th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.03. World Wrestling Entertainment had a return on equity of 11.35% and a net margin of 2.79%. The firm had revenue of $188.40 million for the quarter, compared to analyst estimates of $183.41 million. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, equities analysts forecast that World Wrestling Entertainment will post $0.46 EPS for the current year.

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Several institutional investors have recently modified their holdings of WWE. Comerica Bank increased its position in shares of World Wrestling Entertainment by 9.8% in the fourth quarter. Comerica Bank now owns 40,814 shares of the company’s stock worth $795,000 after buying an additional 3,643 shares in the last quarter. State Street Corp increased its position in shares of World Wrestling Entertainment by 7.7% in the fourth quarter. State Street Corp now owns 756,551 shares of the company’s stock worth $13,922,000 after buying an additional 54,238 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of World Wrestling Entertainment by 305.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,266 shares of the company’s stock worth $3,666,000 after buying an additional 150,137 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of World Wrestling Entertainment by 9.7% in the fourth quarter. New York State Teachers Retirement System now owns 14,700 shares of the company’s stock worth $270,000 after buying an additional 1,300 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of World Wrestling Entertainment during the fourth quarter worth $327,000. Institutional investors own 49.54% of the company’s stock.

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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