World Wrestling Entertainment (NYSE:WWE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “World Wrestling Entertainment’s focus on increasing original content production, localization, subscriber growth, rise in TV rights fees and strategic initiatives have helped the stock to outperform the industry a year. Further, in the third-quarter fiscal 2017 the company not only reported better-than-expected results but also witnessed sharp increase in both the top and bottom lines. The company will continue to report record revenue growth as it has not only extended its earlier deal with different companies but also signed agreement with new service provider for airing its flagship program Raw and SmackDown in different countries. Management is optimistic about achieving another great year of revenues and adjusted OIBDA growth. However, continuous decline in pay-per-view and home entertainment revenues remains concerns.”

A number of other equities research analysts have also recently commented on WWE. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of World Wrestling Entertainment in a research report on Tuesday, September 26th. KeyCorp reissued a “hold” rating on shares of World Wrestling Entertainment in a research report on Tuesday, October 17th. FBN Securities lowered shares of World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research note on Monday, October 30th. Benchmark upped their price target on shares of World Wrestling Entertainment from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, JPMorgan Chase & Co. assumed coverage on shares of World Wrestling Entertainment in a research note on Wednesday, December 6th. They set an “overweight” rating on the stock. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $30.43.

World Wrestling Entertainment (WWE) traded up $0.34 during trading hours on Friday, reaching $32.18. 690,729 shares of the company were exchanged, compared to its average volume of 814,076. World Wrestling Entertainment has a 12 month low of $18.71 and a 12 month high of $33.28. 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 stock has a market capitalization of $2,480.00, a PE ratio of 69.96, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, October 26th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $176.19 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. World Wrestling Entertainment’s revenue for the quarter was up 13.5% compared to the same quarter last year. equities analysts anticipate that World Wrestling Entertainment will post 0.58 earnings per share for the current fiscal year.

In other news, SVP Blake Timothy Bilstad sold 1,801 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total value of $47,546.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the completion of the sale, the chief executive officer now owns 3,340,000 shares in the company, valued at approximately $95,791,200. The disclosure for this sale can be found here. Corporate insiders own 49.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of World Wrestling Entertainment in the third quarter worth $201,000. Cubist Systematic Strategies LLC acquired a new stake in shares of World Wrestling Entertainment in the third quarter worth $176,000. Caxton Associates LP increased its stake in shares of World Wrestling Entertainment by 28.6% in the third quarter. Caxton Associates LP now owns 135,000 shares of the company’s stock worth $3,179,000 after acquiring an additional 30,000 shares during the period. Engineers Gate Manager LP increased its stake in shares of World Wrestling Entertainment by 15.8% in the third quarter. Engineers Gate Manager LP now owns 42,105 shares of the company’s stock worth $992,000 after acquiring an additional 5,752 shares during the period. Finally, Sirios Capital Management L P increased its stake in shares of World Wrestling Entertainment by 104.7% in the third quarter. Sirios Capital Management L P now owns 599,734 shares of the company’s stock worth $14,124,000 after acquiring an additional 306,719 shares during the period. Hedge funds and other institutional investors own 49.75% of the company’s stock.

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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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