World Wrestling Entertainment Inc. (WWE) Trading 6% Higher
World Wrestling Entertainment Inc. (NYSE:WWE)’s share price traded up 6% on Wednesday . The company traded as high as $19.05 and last traded at $19.03, with a volume of 324,599 shares traded. The stock had previously closed at $17.96.
A number of equities analysts recently weighed in on the stock. Benchmark Co. restated a “buy” rating on shares of World Wrestling Entertainment in a research report on Thursday, April 7th. KeyCorp lowered their price objective on shares of World Wrestling Entertainment from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, June 16th. Wells Fargo & Co. reiterated an “outperform” rating and set a $21.00 price objective on shares of World Wrestling Entertainment in a research report on Friday, June 17th. Pacific Crest reiterated a “buy” rating and set a $22.00 price objective (up previously from $21.00) on shares of World Wrestling Entertainment in a research report on Thursday, June 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.38.
The stock has a market cap of $1.44 billion and a price-to-earnings ratio of 50.97. The firm’s 50 day moving average is $17.81 and its 200 day moving average is $17.23.
World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.10 by $0.08. During the same period in the previous year, the firm posted $0.13 EPS. The company earned $171.10 million during the quarter, compared to analysts’ expectations of $170.63 million. World Wrestling Entertainment’s revenue was down 2.9% compared to the same quarter last year. On average, analysts expect that World Wrestling Entertainment Inc. will post $0.46 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 27th. Investors of record on Wednesday, June 15th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, June 13th.
In other World Wrestling Entertainment news, major shareholder K. Mcmahon 2013 Irrev. Vincent sold 2,191,894 shares of World Wrestling Entertainment stock in a transaction on Monday, May 16th. The shares were 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 accessible through the SEC website. Also, insider Kevin Dunn sold 40,000 shares of World Wrestling Entertainment stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $18.02, for a total transaction 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 made changes to their positions in the company. 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 period. Cowen Group Inc. acquired a new stake in shares of World Wrestling Entertainment during the fourth quarter valued at about $2,097,000. Finally, 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 period.
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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