World Wrestling Entertainment Inc. (NYSE:WWE) shares dropped 1.5% during mid-day trading on Friday . The stock traded as low as $19.65 and last traded at $19.80, with a volume of 283,842 shares. The stock had previously closed at $20.10.

WWE has been the topic of a number of recent research reports. FBN Securities restated an “outperform” rating on shares of World Wrestling Entertainment in a report on Monday, April 11th. Wells Fargo & Co. restated a “buy” rating on shares of World Wrestling Entertainment in a report on Wednesday, April 6th. TheStreet upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th. Pacific Crest restated a “buy” rating and issued a $20.00 target price (down previously from $22.00) on shares of World Wrestling Entertainment in a report on Tuesday, April 5th. Finally, KeyCorp dropped their target price on World Wrestling Entertainment from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.63.

The stock has a 50 day moving average price of $18.70 and a 200-day moving average price of $17.40. The stock has a market capitalization of $1.51 billion and a price-to-earnings ratio of 53.53.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Tuesday, May 10th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. The firm had revenue of $171.10 million for the quarter, compared to analysts’ expectations of $170.63 million. During the same quarter last year, the company posted $0.13 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. On average, analysts predict that World Wrestling Entertainment Inc. will post $0.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Thursday, September 15th will be given a $0.12 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.42%.

In other 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 value of $36,166,251.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the sale, the insider now directly owns 490,131 shares in the company, valued at $8,832,160.62. The disclosure for this sale can be found here.

Several hedge funds recently modified their holdings of WWE. 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 worth $1,128,000 after buying an additional 165 shares in 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 worth $1,205,000 after buying an additional 1,770 shares in the last quarter. Finally, Cowen Group Inc. bought a new stake in shares of World Wrestling Entertainment during the fourth quarter worth 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.

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