Benchmark Co. Raises World Wrestling Entertainment, Inc. (WWE) Price Target to $28.00
World Wrestling Entertainment, Inc. (NYSE:WWE) had its price target lifted by equities research analysts at Benchmark Co. from $25.00 to $28.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Benchmark Co.’s price objective would suggest a potential upside of 10.63% from the stock’s current price.
WWE has been the topic of several other reports. Zacks Investment Research raised shares of World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Monday. ValuEngine raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. KeyCorp reaffirmed a “hold” rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. FBN Securities downgraded shares of World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of World Wrestling Entertainment in a research note on Tuesday, September 26th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $25.25.
World Wrestling Entertainment (WWE) opened at 25.31 on Tuesday. World Wrestling Entertainment has a 52 week low of $16.77 and a 52 week high of $26.25. The company has a market capitalization of $1.95 billion, a P/E ratio of 77.16 and a beta of 0.84. The firm has a 50-day moving average of $22.92 and a 200-day moving average of $21.36.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.08. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The business had revenue of $186.40 million for the quarter, compared to the consensus estimate of $176.19 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue was up 13.5% on a year-over-year basis. Analysts anticipate that World Wrestling Entertainment will post $0.47 EPS for the current fiscal year.
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In other World Wrestling Entertainment news, insider Kevin Dunn sold 72,286 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $20.81, for a total transaction of $1,504,271.66. Following the completion of the transaction, the insider now owns 379,559 shares in the company, valued at approximately $7,898,622.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Basil V. Jr. Devito sold 25,537 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now 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 a total of 104,848 shares of company stock valued at $2,207,483 in the last quarter. 49.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in World Wrestling Entertainment during the 3rd quarter worth approximately $236,000. Victory Capital Management Inc. grew its holdings in World Wrestling Entertainment by 26.0% during the 3rd quarter. Victory Capital Management Inc. now owns 35,304 shares of the company’s stock worth $831,000 after acquiring an additional 7,278 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in World Wrestling Entertainment during the 3rd quarter worth approximately $286,000. Davidson Kempner Capital Management LP grew its holdings in World Wrestling Entertainment by 286.7% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 725,000 shares of the company’s stock worth $14,768,000 after acquiring an additional 537,500 shares in the last quarter. Finally, EastBay Asset Management LLC grew its holdings in 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 worth $27,237,000 after acquiring an additional 809,130 shares in the last quarter. Institutional investors own 49.47% of the company’s stock.
World Wrestling Entertainment Company Profile
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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