Artemis Investment Management LLP bought a new position in World Wrestling Entertainment Inc. (NYSE:WWE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 577,071 shares of the company’s stock, valued at approximately $10,621,000.
A number of other large investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in World Wrestling Entertainment by 99.3% in the second quarter. BNP Paribas Arbitrage SA now owns 11,396 shares of the company’s stock worth $210,000 after buying an additional 5,678 shares during the period. First Manhattan Co. increased its stake in shares of World Wrestling Entertainment by 3.9% in the first quarter. First Manhattan Co. now owns 15,904 shares of the company’s stock worth $280,000 after buying an additional 595 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of World Wrestling Entertainment by 16.6% in the second quarter. Capstone Asset Management Co. now owns 16,810 shares of the company’s stock worth $309,000 after buying an additional 2,390 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of World Wrestling Entertainment during the first quarter worth approximately $311,000. Finally, Texas Permanent School Fund purchased a new stake in shares of World Wrestling Entertainment during the first quarter worth approximately $484,000. Institutional investors own 47.54% of the company’s stock.
Shares of World Wrestling Entertainment Inc. (NYSE:WWE) traded up 0.53% on Tuesday, reaching $20.68. 475,513 shares of the company’s stock traded hands. World Wrestling Entertainment Inc. has a 52 week low of $14.20 and a 52 week high of $21.55. The stock has a market capitalization of $1.58 billion, a PE ratio of 66.50 and a beta of 0.79. The company has a 50 day moving average of $20.56 and a 200-day moving average of $18.63.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. World Wrestling Entertainment had a return on equity of 13.38% and a net margin of 3.40%. The firm earned $199 million during the quarter, compared to analyst estimates of $182.56 million. During the same quarter in the prior year, the company posted $0.07 EPS. The company’s quarterly revenue was up 32.5% on a year-over-year basis. Equities research analysts forecast that World Wrestling Entertainment Inc. will post $0.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Thursday, September 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a yield of 2.32%. World Wrestling Entertainment’s dividend payout ratio is currently 154.84%.
WWE has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Benchmark Co. reissued a “buy” rating and issued a $21.86 price objective on shares of World Wrestling Entertainment in a research report on Monday, August 1st. Wells Fargo & Co. reissued a “buy” rating on shares of World Wrestling Entertainment in a research report on Tuesday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a research report on Wednesday, June 29th. Finally, KeyCorp dropped their price objective on shares of World Wrestling Entertainment from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $21.54.
In related news, SVP Mark Kowal sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $20.92, for a total value of $135,980.00. Following the transaction, the senior vice president now owns 21,072 shares in the company, valued at $440,826.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Luisi sold 7,875 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $21.39, for a total value of $168,446.25. Following the transaction, the insider now owns 64,175 shares in the company, valued at approximately $1,372,703.25. The disclosure for this sale can be found here. 55.10% of the stock is owned by corporate insiders.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is a media and entertainment company. 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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