World Wrestling Entertainment Inc. (WWE) Shares Up 6%
World Wrestling Entertainment Inc. (NYSE:WWE) shares shot up 6% during trading 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 research firms have recently commented on WWE. Benchmark Co. reissued a “buy” rating on shares of World Wrestling Entertainment in a research report on Thursday, April 7th. KeyCorp cut their price target on shares of World Wrestling Entertainment from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, June 16th. Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $21.00 price target on shares of World Wrestling Entertainment in a report on Friday, June 17th. Pacific Crest reaffirmed a “buy” rating and issued a $22.00 price target (up from $21.00) on shares of World Wrestling Entertainment in a report on Thursday, June 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a report on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $21.38.
The firm’s 50 day moving average is $17.92 and its 200-day moving average is $17.26. The firm has a market capitalization of $1.46 billion and a PE ratio of 51.94.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.08. During the same period in the prior year, the company posted $0.13 earnings per share. The business earned $171.10 million during the quarter, compared to the consensus estimate of $170.63 million. The firm’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that World Wrestling Entertainment Inc. will post $0.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 27th. Stockholders of record on Wednesday, June 15th were given a $0.12 dividend. The ex-dividend date was Monday, June 13th. This represents a $0.48 annualized dividend and a dividend yield of 2.50%.
In related news, insider Kevin Dunn sold 40,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 490,131 shares of the company’s stock, valued at $8,832,160.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder K. Mcmahon 2013 Irrev. Vincent sold 2,191,894 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here.
Other hedge funds and institutional investors recently modified their holdings of the company. I.G. Investment Management LTD. boosted its position 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 during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position 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 during the last quarter. Finally, Cowen Group Inc. bought a new position in shares of World Wrestling Entertainment during the fourth quarter worth about $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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