World Wrestling Entertainment, Inc. (NYSE:WWE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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 analysts also recently issued reports on the company. ValuEngine downgraded World Wrestling Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Morgan Stanley began coverage on World Wrestling Entertainment in a research note on Friday, June 30th. They issued an “equal weight” rating and a $23.00 price objective for the company. TheStreet raised World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a research note on Tuesday, April 4th. Finally, BTIG Research reissued a “buy” rating and set a $25.00 target price on shares of World Wrestling Entertainment in a research report on Sunday, April 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock 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 Thursday. World Wrestling Entertainment has a 1-year low of $16.77 and a 1-year high of $23.14. The stock has a market cap of $1.61 billion, a P/E ratio of 63.72 and a beta of 0.82. The company’s 50-day moving average is $20.86 and its 200 day moving average is $20.79.

World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, July 27th. The company reported $0.06 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 the consensus estimate of $209.28 million. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Equities research analysts anticipate that World Wrestling Entertainment will post $0.46 EPS for the current 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 value of $284,121.09. Following the completion of the sale, the executive vice president now directly owns 43,926 shares of the company’s stock, valued at approximately $932,548.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the executive now directly owns 436,174 shares of the company’s stock, valued at $9,268,697.50. The disclosure for this sale can be found here. 49.80% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Lindsell Train Ltd raised its stake in shares of World Wrestling Entertainment by 4.2% in the second quarter. Lindsell Train Ltd now owns 7,082,868 shares of the company’s stock valued at $144,278,000 after buying an additional 286,635 shares in the last quarter. BlackRock Inc. raised its stake in shares of World Wrestling Entertainment by 116,814.6% in the first quarter. BlackRock Inc. now owns 4,426,388 shares of the company’s stock valued at $98,355,000 after buying an additional 4,422,602 shares in the last quarter. Morgan Stanley raised its stake in shares of World Wrestling Entertainment by 22.5% in the first quarter. Morgan Stanley now owns 1,807,629 shares of the company’s stock valued at $40,165,000 after buying an additional 331,584 shares in the last quarter. State Street Corp raised its stake in shares of World Wrestling Entertainment by 9.3% in the first quarter. State Street Corp now owns 826,608 shares of the company’s stock valued at $18,368,000 after buying an additional 70,057 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. raised its stake in shares of World Wrestling Entertainment by 5.5% in the first quarter. Eagle Boston Investment Management Inc. now owns 456,556 shares of the company’s stock valued at $10,144,000 after buying an additional 23,764 shares in the last quarter. 49.79% of the stock is owned by hedge funds and other institutional investors.

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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