BidaskClub Lowers World Wrestling Entertainment, Inc. (NYSE:WWE) to Hold
World Wrestling Entertainment, Inc. (NYSE:WWE) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
Several other analysts have also weighed in on the company. ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet raised World Wrestling Entertainment from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Morgan Stanley initiated coverage on 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. Benchmark Co. reissued 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. Finally, Zacks Investment Research raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $24.38.
Shares of World Wrestling Entertainment (WWE) opened at 20.90 on Wednesday. The firm has a market cap of $1.61 billion, a PE ratio of 63.72 and a beta of 0.82. World Wrestling Entertainment has a 1-year low of $16.77 and a 1-year high of $23.14. The company has a 50-day moving average of $20.86 and a 200-day moving average of $20.79.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $214.60 million during the quarter, compared to analysts’ expectations of $209.28 million. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. World Wrestling Entertainment’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share. Analysts predict that World Wrestling Entertainment will post $0.46 earnings per share for the current fiscal year.
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In related news, EVP Casey Collins sold 13,383 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $21.23, for a total transaction of $284,121.09. Following the sale, the executive vice president now owns 43,926 shares of the company’s stock, valued at $932,548.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Michelle D. Wilson sold 55,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $21.25, for a total value of $1,168,750.00. Following the sale, the executive now directly owns 436,174 shares in the company, valued at approximately $9,268,697.50. The disclosure for this sale can be found here. 49.80% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of WWE. Alps Advisors Inc. raised its stake in World Wrestling Entertainment by 0.3% in the second quarter. Alps Advisors Inc. now owns 23,635 shares of the company’s stock worth $481,000 after buying an additional 61 shares during the last quarter. Capital One National Association raised its stake in World Wrestling Entertainment by 0.8% in the second quarter. Capital One National Association now owns 17,820 shares of the company’s stock worth $363,000 after buying an additional 143 shares during the last quarter. Louisiana State Employees Retirement System raised its stake 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 during the last quarter. Aperio Group LLC raised its stake in World Wrestling Entertainment by 2.1% in the second quarter. Aperio Group LLC now owns 10,469 shares of the company’s stock worth $213,000 after buying an additional 220 shares during the last quarter. Finally, Texas Permanent School Fund raised its stake in World Wrestling Entertainment by 0.9% in the second quarter. Texas Permanent School Fund now owns 28,114 shares of the company’s stock worth $573,000 after buying an additional 240 shares during the last quarter. 49.79% of the stock is currently owned by institutional investors and hedge funds.
World Wrestling Entertainment Company 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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