Raymond James Financial Services Advisors Inc. bought a new stake in World Wrestling Entertainment, Inc. (NYSE:WWE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,916 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Creative Planning increased its position in shares of World Wrestling Entertainment by 4.6% during the 2nd quarter. Creative Planning now owns 14,038 shares of the company’s stock valued at $1,022,000 after purchasing an additional 623 shares during the period. Amalgamated Bank increased its position in shares of World Wrestling Entertainment by 13.2% during the 2nd quarter. Amalgamated Bank now owns 6,849 shares of the company’s stock valued at $499,000 after purchasing an additional 797 shares during the period. Piedmont Investment Advisors LLC increased its position in shares of World Wrestling Entertainment by 9.5% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 9,359 shares of the company’s stock valued at $682,000 after purchasing an additional 812 shares during the period. Meeder Asset Management Inc. increased its position in shares of World Wrestling Entertainment by 175.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,815 shares of the company’s stock valued at $132,000 after purchasing an additional 1,155 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in shares of World Wrestling Entertainment during the 2nd quarter valued at $218,000. Hedge funds and other institutional investors own 61.54% of the company’s stock.

Several equities analysts have recently issued reports on the company. Needham & Company LLC lifted their price target on World Wrestling Entertainment to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 28th. JPMorgan Chase & Co. lifted their price target on World Wrestling Entertainment to $46.00 and gave the company a “neutral” rating in a research report on Friday, May 18th. Zacks Investment Research cut World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Citigroup lifted their price target on World Wrestling Entertainment from $43.00 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, June 28th. Finally, Guggenheim lifted their target price on World Wrestling Entertainment to $82.00 and gave the stock an “average” rating in a report on Wednesday, June 27th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.27.

Shares of NYSE WWE opened at $87.02 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.31 and a current ratio of 1.34. The firm has a market capitalization of $6.71 billion, a P/E ratio of 133.88 and a beta of 0.97. World Wrestling Entertainment, Inc. has a 52-week low of $21.22 and a 52-week high of $89.21.

World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, July 26th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The company had revenue of $281.60 million during the quarter, compared to analyst estimates of $240.30 million. World Wrestling Entertainment had a return on equity of 24.64% and a net margin of 5.93%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. research analysts expect that World Wrestling Entertainment, Inc. will post 0.87 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Friday, September 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, September 13th. World Wrestling Entertainment’s payout ratio is 73.85%.

In related news, CAO Mark Kowal sold 2,500 shares of World Wrestling Entertainment stock in a transaction on Friday, August 10th. The stock was sold at an average price of $79.45, for a total value of $198,625.00. Following the transaction, the chief accounting officer now directly owns 14,872 shares in the company, valued at approximately $1,181,580.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Luisi sold 12,461 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $79.01, for a total value of $984,543.61. Following the completion of the sale, the insider now directly owns 69,046 shares of the company’s stock, valued at approximately $5,455,324.46. The disclosure for this sale can be found here. Insiders sold a total of 301,496 shares of company stock worth $24,291,338 over the last 90 days. Insiders own 45.10% of the company’s stock.

World Wrestling Entertainment Profile

World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.

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Institutional Ownership by Quarter for World Wrestling Entertainment (NYSE:WWE)

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