World Wrestling Entertainment, Inc. (NYSE:WWE) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other equities research analysts have also recently weighed in on WWE. TheStreet raised World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Morgan Stanley initiated 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. Zacks Investment Research raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Benchmark Co. reaffirmed a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of World Wrestling Entertainment in a research note on Sunday, July 30th. Finally, BidaskClub cut World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. World Wrestling Entertainment has a consensus rating of “Buy” and a consensus target price of $24.38.

Shares of World Wrestling Entertainment (WWE) traded up 1.61% during trading on Friday, reaching $22.15. The company’s stock had a trading volume of 576,575 shares. The stock has a 50 day moving average of $21.22 and a 200-day moving average of $20.98. World Wrestling Entertainment has a 1-year low of $16.77 and a 1-year high of $23.14. The company has a market capitalization of $1.71 billion, a PE ratio of 67.53 and a beta of 0.82.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, July 27th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The company 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 8.45% and a net margin of 2.37%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. On average, analysts expect that World Wrestling Entertainment will post $0.46 earnings per share for the current year.

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In related news, insider Kevin Dunn sold 72,286 shares of the business’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 completion of the transaction, the insider now directly owns 379,559 shares of the company’s stock, valued at approximately $7,898,622.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark Kowal sold 4,750 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $21.44, for a total value of $101,840.00. Following the transaction, the senior vice president now directly owns 17,011 shares of the company’s stock, valued at $364,715.84. The disclosure for this sale can be found here. Insiders have sold a total of 145,419 shares of company stock valued at $3,058,983 over the last three months. 49.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. boosted its position in World Wrestling Entertainment by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock valued at $104,000 after buying an additional 51 shares during the last quarter. Alps Advisors Inc. boosted its position in World Wrestling Entertainment by 0.3% in the second quarter. Alps Advisors Inc. now owns 23,635 shares of the company’s stock valued at $481,000 after buying an additional 61 shares during the last quarter. Capital One National Association boosted its position 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 valued at $363,000 after buying an additional 143 shares during the last quarter. Louisiana State Employees Retirement System boosted its position 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 valued at $349,000 after buying an additional 200 shares during the last quarter. Finally, Aperio Group LLC boosted its position in World Wrestling Entertainment by 2.1% in the second quarter. Aperio Group LLC now owns 10,469 shares of the company’s stock valued at $213,000 after buying an additional 220 shares during the last quarter. 49.50% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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