World Wrestling Entertainment Inc. (WWE) Sees Strong Trading Volume
World Wrestling Entertainment Inc. (NYSE:WWE) shares saw unusually-high trading volume on Monday . Approximately 912,688 shares were traded during trading, an increase of 48% from the previous session’s volume of 614,728 shares.The stock last traded at $20.45 and had previously closed at $19.51.
WWE has been the subject of several analyst reports. Pacific Crest reissued a “buy” rating and set a $22.00 target price (up from $21.00) on shares of World Wrestling Entertainment in a research note on Thursday, June 16th. TheStreet raised World Wrestling Entertainment from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Zacks Investment Research cut World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Wells Fargo & Co. reissued a “buy” rating on shares of World Wrestling Entertainment in a research note on Wednesday, April 6th. Finally, Benchmark Co. reissued a “buy” rating on shares of World Wrestling Entertainment in a research note on Thursday, April 7th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.38.
The stock has a market capitalization of $1.55 billion and a price-to-earnings ratio of 55.15. The firm’s 50 day moving average is $18.10 and its 200-day moving average is $17.27.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.08. The business had revenue of $171.10 million for the quarter, compared to the consensus estimate of $170.63 million. During the same period last year, the firm posted $0.13 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts anticipate that World Wrestling Entertainment Inc. will post $0.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 27th. Stockholders of record on Wednesday, June 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.35%.
In related news, major shareholder K. Mcmahon 2013 Irrev. Vincent sold 2,191,894 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $16.50, for a total transaction of $36,166,251.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin Dunn sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $18.02, for a total value of $720,800.00. Following the sale, the insider now directly owns 490,131 shares in the company, valued at approximately $8,832,160.62. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in the company. I.G. Investment Management LTD. boosted its stake in shares of World Wrestling Entertainment by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 63,215 shares of the company’s stock valued at $1,128,000 after buying an additional 165 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of World Wrestling Entertainment by 2.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 67,568 shares of the company’s stock valued at $1,205,000 after buying an additional 1,770 shares during the last quarter. Finally, Cowen Group Inc. purchased a new stake in shares of World Wrestling Entertainment during the fourth quarter valued at approximately $2,097,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.