World Wrestling Entertainment Inc. (WWE) Trading Down 1.7%
World Wrestling Entertainment Inc. (NYSE:WWE)’s share price dropped 1.7% during mid-day trading on Tuesday . The stock traded as low as $20.11 and last traded at $20.12, with a volume of 513,337 shares trading hands. The stock had previously closed at $20.46.
WWE has been the topic of several research analyst reports. Pacific Crest initiated coverage on World Wrestling Entertainment in a research note on Tuesday, March 29th. They set an “overweight” rating and a $22.00 target price on the stock. Macquarie reissued a “hold” rating and set a $18.00 target price on shares of World Wrestling Entertainment in a research note on Thursday, March 31st. KeyCorp reduced their target price on World Wrestling Entertainment from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 5th. Benchmark Co. reissued a “buy” rating on shares of World Wrestling Entertainment in a research note on Thursday, April 7th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of World Wrestling Entertainment in a research note on Wednesday, April 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $21.38.
The company has a 50 day moving average of $18.20 and a 200-day moving average of $17.30. The company has a market cap of $1.53 billion and a price-to-earnings ratio of 54.15.
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 Zacks’ consensus estimate of $0.10 by $0.08. The firm had revenue of $171.10 million for the quarter, compared to analyst estimates of $170.63 million. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS. On average, analysts anticipate that World Wrestling Entertainment Inc. will post $0.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 27th. Shareholders of record on Wednesday, June 15th were paid 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 2.39%.
In other World Wrestling Entertainment news, insider Kevin Dunn sold 40,000 shares of World Wrestling Entertainment stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $18.02, for a total transaction of $720,800.00. Following the completion of the transaction, the insider now owns 490,131 shares in the company, valued at approximately $8,832,160.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder K. Mcmahon 2013 Irrev. Vincent sold 2,191,894 shares of World Wrestling Entertainment stock in a transaction dated Monday, May 16th. The shares were 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 institutional investors recently added to or reduced their stakes in the company. I.G. Investment Management LTD. raised its position in 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. Cowen Group Inc. bought a new position in World Wrestling Entertainment during the fourth quarter worth $2,097,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in 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.
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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