Analysts at J P Morgan Chase & Co assumed coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a report released on Wednesday, MarketBeat reports. The brokerage set an “overweight” rating on the stock.

Other analysts have also recently issued research reports about the stock. Benchmark upped their price objective on shares of World Wrestling Entertainment from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a research report on Tuesday, September 26th. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 12th. ValuEngine upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub cut shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.25.

World Wrestling Entertainment (NYSE:WWE) opened at $30.33 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.68 and a quick ratio of 2.62. The firm has a market capitalization of $2,338.66, a price-to-earnings ratio of 57.23, a PEG ratio of 2.64 and a beta of 0.87. World Wrestling Entertainment has a 12 month low of $18.00 and a 12 month high of $30.40.

World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.08. The company had revenue of $186.40 million for the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. sell-side analysts forecast that World Wrestling Entertainment will post 0.58 earnings per share for the current year.

In other news, insider Basil V. Jr. Devito sold 25,537 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $21.59, for a total transaction of $551,343.83. Following the completion of the transaction, the insider now directly owns 65,616 shares in the company, valued at approximately $1,416,649.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Blake Timothy Bilstad sold 1,801 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total transaction of $47,546.40. The disclosure for this sale can be found here. Corporate insiders own 49.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of WWE. Pinebridge Investments L.P. lifted its stake in World Wrestling Entertainment by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock valued at $104,000 after purchasing an additional 51 shares during the last quarter. Alps Advisors Inc. lifted its stake in World Wrestling Entertainment by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 23,635 shares of the company’s stock valued at $481,000 after purchasing an additional 61 shares during the last quarter. Aperio Group LLC lifted its stake in World Wrestling Entertainment by 2.1% in the 2nd quarter. Aperio Group LLC now owns 10,469 shares of the company’s stock valued at $213,000 after purchasing an additional 220 shares during the last quarter. Texas Permanent School Fund lifted its stake in World Wrestling Entertainment by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 28,114 shares of the company’s stock valued at $573,000 after purchasing an additional 240 shares during the last quarter. Finally, First Manhattan Co. lifted its stake in World Wrestling Entertainment by 3.6% in the 2nd quarter. First Manhattan Co. now owns 19,675 shares of the company’s stock valued at $400,000 after purchasing an additional 675 shares during the last quarter. Institutional investors own 49.84% of the company’s stock.

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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.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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