Blake Timothy Bilstad Sells 1,801 Shares of World Wrestling Entertainment, Inc. (WWE) Stock
World Wrestling Entertainment, Inc. (NYSE:WWE) SVP Blake Timothy Bilstad sold 1,801 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total value of $47,546.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. The business had revenue of $186.40 million for the quarter, compared to analyst estimates of $176.19 million. During the same period last year, the company earned $0.14 EPS. World Wrestling Entertainment’s revenue for the quarter was up 13.5% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Friday, December 15th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.48 annualized dividend and a yield of 1.81%. World Wrestling Entertainment’s payout ratio is 106.67%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinebridge Investments L.P. grew its position in World Wrestling Entertainment by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock worth $104,000 after acquiring an additional 51 shares during the last quarter. State of Alaska Department of Revenue grew its position in World Wrestling Entertainment by 78.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,601 shares of the company’s stock worth $154,000 after acquiring an additional 3,351 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in World Wrestling Entertainment by 4.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock worth $195,000 after acquiring an additional 380 shares during the last quarter. Summit Securities Group LLC bought a new position in World Wrestling Entertainment during the 3rd quarter worth approximately $236,000. Finally, NGAM Advisors L.P. bought a new position in World Wrestling Entertainment during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 49.47% of the company’s stock.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Monday. ValuEngine raised 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. Benchmark Co. lifted their price objective on World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, FBN Securities lowered World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.25.
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.
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