World Wrestling Entertainment, Inc. (WWE) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of World Wrestling Entertainment, Inc. (NYSE:WWE) from a sell rating to a hold rating in a report released on Friday morning.

Other research analysts also recently issued reports about the stock. Benchmark Co. upped their target price on shares of World Wrestling Entertainment to $25.86 in a research note on Friday, February 10th. TheStreet upgraded shares of World Wrestling Entertainment from a c+ rating to a b- rating in a research note on Thursday, May 4th. Needham & Company LLC restated a buy rating and issued a $25.00 target price on shares of World Wrestling Entertainment in a research note on Thursday, February 9th. BTIG Research restated a buy rating and issued a $25.00 target price on shares of World Wrestling Entertainment in a research note on Sunday, April 2nd. Finally, Citigroup Inc initiated coverage on shares of World Wrestling Entertainment in a research note on Monday, March 27th. They issued a buy rating and a $25.00 target price for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. World Wrestling Entertainment presently has a consensus rating of Buy and a consensus target price of $23.49.

Shares of World Wrestling Entertainment (WWE) traded up 0.58% during midday trading on Friday, hitting $20.82. 80,032 shares of the stock were exchanged. The firm has a market cap of $1.59 billion, a P/E ratio of 77.11 and a beta of 0.71. World Wrestling Entertainment has a 12-month low of $16.77 and a 12-month high of $23.14. The firm has a 50 day moving average of $20.46 and a 200 day moving average of $20.18.

World Wrestling Entertainment (NYSE:WWE) last announced its earnings results on Thursday, May 4th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.03. The firm had revenue of $188.40 million during the quarter, compared to analysts’ expectations of $183.41 million. World Wrestling Entertainment had a net margin of 4.64% and a return on equity of 15.21%. World Wrestling Entertainment’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. Equities analysts forecast that World Wrestling Entertainment will post $0.47 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 26th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.48 dividend on an annualized basis and a yield of 2.32%. World Wrestling Entertainment’s dividend payout ratio (DPR) is 111.63%.

In other World Wrestling Entertainment news, insider Michael J. Luisi sold 7,125 shares of the stock in a transaction on Monday, March 20th. The shares were sold at an average price of $21.16, for a total transaction of $150,765.00. Following the transaction, the insider now directly owns 80,609 shares in the company, valued at approximately $1,705,686.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 55.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of WWE. Municipal Employees Retirement System of Michigan increased its position in World Wrestling Entertainment by 4.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock worth $195,000 after buying an additional 380 shares during the period. Mason Street Advisors LLC increased its position in World Wrestling Entertainment by 7.1% in the first quarter. Mason Street Advisors LLC now owns 9,003 shares of the company’s stock worth $200,000 after buying an additional 600 shares during the period. ETRADE Capital Management LLC bought a new position in World Wrestling Entertainment during the third quarter worth approximately $202,000. Karp Capital Management Corp bought a new position in World Wrestling Entertainment during the first quarter worth approximately $228,000. Finally, UBS Asset Management Americas Inc. bought a new position in World Wrestling Entertainment during the first quarter worth approximately $229,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “WWE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

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