MKM Partners set a $110.00 price objective on World Wrestling Entertainment (NYSE:WWE) in a research note released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on WWE. Benchmark raised shares of World Wrestling Entertainment from a hold rating to a buy rating and set a $90.00 price target on the stock in a report on Friday, July 26th. Rosenblatt Securities reissued a buy rating and issued a $85.00 price target on shares of World Wrestling Entertainment in a report on Wednesday, October 2nd. Needham & Company LLC reissued a buy rating and issued a $88.00 price target (down previously from $100.00) on shares of World Wrestling Entertainment in a report on Wednesday, October 2nd. Guggenheim reissued a buy rating and issued a $100.00 price target (down previously from $105.00) on shares of World Wrestling Entertainment in a report on Tuesday, June 25th. Finally, Consumer Edge started coverage on shares of World Wrestling Entertainment in a report on Wednesday, October 2nd. They issued an equal weight rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued 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 $98.81.

World Wrestling Entertainment stock traded down $3.26 during trading hours on Friday, reaching $67.00. The stock had a trading volume of 1,178,118 shares, compared to its average volume of 1,025,913. The stock has a market cap of $5.53 billion, a PE ratio of 59.82 and a beta of 1.31. World Wrestling Entertainment has a 52 week low of $58.50 and a 52 week high of $100.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.24 and a quick ratio of 1.21. The company has a fifty day simple moving average of $70.85 and a 200-day simple moving average of $76.12.

World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14. The business had revenue of $268.90 million for the quarter, compared to analyst estimates of $271.21 million. World Wrestling Entertainment had a net margin of 8.42% and a return on equity of 23.92%. The company’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. Research analysts predict that World Wrestling Entertainment will post 0.99 earnings per share for the current fiscal year.

In related news, insider George A. Barrios sold 74,678 shares of World Wrestling Entertainment stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $70.06, for a total transaction of $5,231,940.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle D. Wilson sold 158,134 shares of World Wrestling Entertainment stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $69.30, for a total transaction of $10,958,686.20. Following the transaction, the insider now directly owns 41,508 shares of the company’s stock, valued at $2,876,504.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,047 shares of company stock valued at $17,794,397. Corporate insiders own 43.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of WWE. Lindsell Train Ltd lifted its position in World Wrestling Entertainment by 20.2% during the 2nd quarter. Lindsell Train Ltd now owns 7,168,643 shares of the company’s stock valued at $518,436,000 after acquiring an additional 1,205,461 shares during the period. Nuveen Asset Management LLC lifted its position in World Wrestling Entertainment by 5,475.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 966,210 shares of the company’s stock valued at $69,770,000 after acquiring an additional 948,879 shares during the period. APG Asset Management N.V. lifted its position in World Wrestling Entertainment by 190.2% during the 2nd quarter. APG Asset Management N.V. now owns 765,600 shares of the company’s stock valued at $48,546,000 after acquiring an additional 501,800 shares during the period. Hoplite Capital Management L.P. lifted its position in World Wrestling Entertainment by 160.4% during the 2nd quarter. Hoplite Capital Management L.P. now owns 464,685 shares of the company’s stock valued at $33,555,000 after acquiring an additional 286,212 shares during the period. Finally, Balyasny Asset Management LLC lifted its position in World Wrestling Entertainment by 358.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 351,617 shares of the company’s stock valued at $25,390,000 after acquiring an additional 274,922 shares during the period. 71.03% of the stock is owned by institutional investors.

World Wrestling Entertainment Company 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. It operates in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.

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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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