BlackRock Inc. lessened its stake in World Wrestling Entertainment, Inc. (NYSE:WWE) by 8.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,273,052 shares of the company’s stock after selling 515,012 shares during the period. BlackRock Inc. owned about 6.76% of World Wrestling Entertainment worth $510,063,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its holdings in World Wrestling Entertainment by 3.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 19,161 shares of the company’s stock valued at $1,395,000 after purchasing an additional 700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in World Wrestling Entertainment by 48.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,246 shares of the company’s stock valued at $164,000 after purchasing an additional 734 shares during the last quarter. Creative Planning increased its holdings in World Wrestling Entertainment by 5.6% in the 3rd quarter. Creative Planning now owns 14,819 shares of the company’s stock valued at $1,433,000 after purchasing an additional 781 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in World Wrestling Entertainment by 6.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,591 shares of the company’s stock valued at $990,000 after purchasing an additional 875 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in World Wrestling Entertainment by 16.3% in the 2nd quarter. United Services Automobile Association now owns 6,568 shares of the company’s stock valued at $478,000 after purchasing an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 59.92% of the company’s stock.

Several analysts recently weighed in on WWE shares. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Monday, October 29th. KeyCorp reiterated a “buy” rating on shares of World Wrestling Entertainment in a report on Friday, October 26th. Cannonball Research upgraded shares of World Wrestling Entertainment to a “buy” rating and set a $95.00 target price for the company in a report on Thursday, October 11th. Guggenheim boosted their price target on shares of World Wrestling Entertainment from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, November 28th. Finally, Citigroup dropped their price target on shares of World Wrestling Entertainment from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, October 29th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $87.42.

NYSE:WWE opened at $75.05 on Friday. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 115.46 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.26 and a quick ratio of 1.23. World Wrestling Entertainment, Inc. has a 52 week low of $28.80 and a 52 week high of $97.69.

World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.18. The business had revenue of $188.40 million during the quarter, compared to the consensus estimate of $203.08 million. World Wrestling Entertainment had a net margin of 7.27% and a return on equity of 27.69%. On average, sell-side analysts anticipate that World Wrestling Entertainment, Inc. will post 0.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. World Wrestling Entertainment’s dividend payout ratio (DPR) is 73.85%.

In other World Wrestling Entertainment news, CAO Mark Kowal sold 2,500 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $88.04, for a total value of $220,100.00. Following the completion of the transaction, the chief accounting officer now owns 9,872 shares in the company, valued at $869,130.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent K. Mcmahon sold 306,000 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $74.73, for a total transaction of $22,867,380.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 396,000 shares of company stock valued at $30,335,605. Insiders own 45.10% of the company’s stock.

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About World Wrestling Entertainment

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.

Further Reading: SEC Filing

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

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