World Wrestling Entertainment (WWE) Sees Large Volume Increase
World Wrestling Entertainment, Inc. (NYSE:WWE) shares saw unusually-high trading volume on Wednesday . Approximately 1,786,035 shares traded hands during trading, an increase of 220% from the previous session’s volume of 557,603 shares.The stock last traded at $31.88 and had previously closed at $30.54.
WWE has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. J P Morgan Chase & Co initiated coverage on World Wrestling Entertainment in a research report on Wednesday, December 6th. They set an “overweight” rating on the stock. Zacks Investment Research upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, September 12th. FBN Securities cut World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research report on Monday, October 30th. Finally, Benchmark upped their price target on World Wrestling Entertainment from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $25.25.
The stock has a market capitalization of $2,458.17, a PE ratio of 60.15, a P/E/G ratio of 2.77 and a beta of 0.87. The company has a quick ratio of 2.62, a current ratio of 2.68 and a debt-to-equity ratio of 0.83.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.08. The business had revenue of $186.40 million during the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. World Wrestling Entertainment’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. research analysts expect that World Wrestling Entertainment, Inc. will post 0.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Friday, December 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.50%. World Wrestling Entertainment’s dividend payout ratio is 106.67%.
In related news, SVP Blake Timothy Bilstad sold 1,801 shares of World Wrestling Entertainment stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total transaction of $47,546.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 49.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in WWE. Dimensional Fund Advisors LP raised its holdings in World Wrestling Entertainment by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 201,452 shares of the company’s stock valued at $4,476,000 after acquiring an additional 2,186 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of World Wrestling Entertainment by 5.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 149,755 shares of the company’s stock valued at $3,328,000 after purchasing an additional 8,178 shares during the last quarter. Bank of America Corp DE grew its position in World Wrestling Entertainment by 107.8% during the 1st quarter. Bank of America Corp DE now owns 60,635 shares of the company’s stock worth $1,347,000 after acquiring an additional 31,451 shares during the last quarter. Aperio Group LLC grew its position in shares of World Wrestling Entertainment by 2.1% in the 2nd quarter. Aperio Group LLC now owns 10,469 shares of the company’s stock valued at $213,000 after buying an additional 220 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of World Wrestling Entertainment by 43.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,620 shares of the company’s stock valued at $257,000 after buying an additional 3,830 shares during the last quarter. 49.84% of the stock is owned by hedge funds and other institutional investors.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. 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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