Wells Fargo & Co upgraded shares of World Wrestling Entertainment (NYSE:WWE) from a market perform rating to an outperform rating in a research report report published on Thursday.

A number of other equities analysts have also recently commented on the stock. Citigroup cut shares of World Wrestling Entertainment from a buy rating to a neutral rating in a research report on Friday, December 22nd. Zacks Investment Research cut shares of World Wrestling Entertainment from a buy rating to a hold rating in a research report on Monday, September 11th. FBN Securities cut shares of World Wrestling Entertainment from an outperform rating to a sector perform rating in a research report on Monday, October 30th. JPMorgan Chase & Co. initiated coverage on shares of World Wrestling Entertainment in a research report on Wednesday, December 6th. They set an overweight rating for the company. Finally, Benchmark lifted their price objective on shares of World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a buy rating in a research report on Tuesday, October 31st. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $26.25.

World Wrestling Entertainment (NYSE:WWE) traded up $0.11 during trading hours on Thursday, hitting $30.88. 1,048,100 shares of the company traded hands, compared to its average volume of 883,700. World Wrestling Entertainment has a twelve month low of $18.36 and a twelve month high of $33.28. The company has a quick ratio of 2.62, a current ratio of 2.68 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $2,372.58, a PE ratio of 68.62, a PEG ratio of 2.45 and a beta of 0.86.

World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The business had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $176.19 million. During the same period last year, the business earned $0.14 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. research analysts predict that World Wrestling Entertainment will post 0.58 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Friday, December 15th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, December 14th. World Wrestling Entertainment’s dividend payout ratio is currently 106.67%.

In related news, SVP Blake Timothy Bilstad sold 1,801 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total value of $47,546.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $28.68, for a total value of $95,791,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,340,000 shares of the company’s stock, valued at approximately $95,791,200. The disclosure for this sale can be found here. 49.80% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in World Wrestling Entertainment by 6.3% in the second quarter. Northern Trust Corp now owns 516,923 shares of the company’s stock valued at $10,529,000 after purchasing an additional 30,596 shares in the last quarter. State Street Corp raised its stake in World Wrestling Entertainment by 5.5% during the second quarter. State Street Corp now owns 872,209 shares of the company’s stock worth $17,763,000 after acquiring an additional 45,601 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in World Wrestling Entertainment by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 222,028 shares of the company’s stock worth $4,523,000 after acquiring an additional 20,576 shares in the last quarter. New York State Common Retirement Fund raised its stake in World Wrestling Entertainment by 25.8% during the second quarter. New York State Common Retirement Fund now owns 40,900 shares of the company’s stock worth $833,000 after acquiring an additional 8,399 shares in the last quarter. Finally, EastBay Asset Management LLC raised its stake in World Wrestling Entertainment by 153.2% during the second quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock worth $27,237,000 after acquiring an additional 809,130 shares in the last quarter. 49.75% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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