World Wrestling Entertainment, Inc. (NYSE:WWE) was downgraded by equities research analysts at FBN Securities from an “outperform” rating to a “sector perform” rating in a research note issued on Monday, Marketbeat reports.

Several other equities research analysts have also commented on WWE. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. BidaskClub lowered shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of World Wrestling Entertainment in a report on Tuesday, October 17th. ValuEngine raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $25.00 target price (down previously from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $24.88.

World Wrestling Entertainment (WWE) opened at 25.31 on Monday. World Wrestling Entertainment has a 52-week low of $16.77 and a 52-week high of $26.25. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 77.16 and a beta of 0.84. The firm’s 50-day moving average is $22.92 and its 200 day moving average is $21.36.

World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.20 by $0.08. The company had revenue of $186.40 million during the quarter, compared to analyst estimates of $176.19 million. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, equities research analysts predict that World Wrestling Entertainment will post $0.47 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally posted by American Banking News and is the property of of American Banking News. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/10/30/world-wrestling-entertainment-inc-wwe-lowered-to-sector-perform-at-fbn-securities.html.

In other news, SVP Mark Kowal sold 4,750 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $21.44, for a total transaction of $101,840.00. Following the completion of the sale, the senior vice president now owns 17,011 shares of the company’s stock, valued at $364,715.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Basil V. Jr. Devito sold 25,537 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $21.59, for a total transaction of $551,343.83. Following the sale, the insider now directly owns 65,616 shares of the company’s stock, valued at approximately $1,416,649.44. The disclosure for this sale can be found here. Insiders have sold 104,848 shares of company stock valued at $2,207,483 in the last ninety days. Insiders own 49.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. EastBay Asset Management LLC boosted its position in shares of World Wrestling Entertainment by 153.2% during the 2nd quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock valued at $27,237,000 after acquiring an additional 809,130 shares during the last quarter. NGAM Advisors L.P. acquired a new position in shares of World Wrestling Entertainment during the 2nd quarter valued at about $207,000. Prudential Financial Inc. boosted its position in shares of World Wrestling Entertainment by 0.6% during the 1st quarter. Prudential Financial Inc. now owns 65,268 shares of the company’s stock valued at $1,450,000 after acquiring an additional 400 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of World Wrestling Entertainment by 84.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 414,161 shares of the company’s stock valued at $8,436,000 after acquiring an additional 189,486 shares during the last quarter. Finally, Capital One National Association boosted its position in shares of World Wrestling Entertainment by 0.8% during the 2nd quarter. Capital One National Association now owns 17,820 shares of the company’s stock valued at $363,000 after acquiring an additional 143 shares during the last quarter. 49.47% of the stock is currently 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.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

Receive News & Ratings for World Wrestling Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Wrestling Entertainment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.