World Wrestling Entertainment, Inc. (NYSE:WWE) has been assigned an average rating of “Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $36.86.
Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Saturday. KeyCorp upgraded shares of World Wrestling Entertainment from a “sector weight” rating to an “overweight” rating and set a $48.00 price target for the company in a report on Monday. Benchmark restated a “buy” rating and issued a $40.00 price target (up previously from $28.00) on shares of World Wrestling Entertainment in a report on Friday. Morgan Stanley upgraded shares of World Wrestling Entertainment from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Tuesday, January 30th. Finally, Needham & Company LLC boosted their price target on shares of World Wrestling Entertainment from $25.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 24th.
Shares of World Wrestling Entertainment (NYSE WWE) opened at $35.36 on Tuesday. World Wrestling Entertainment has a twelve month low of $19.12 and a twelve month high of $36.91. The firm has a market cap of $2,686.41, a PE ratio of 86.25, a P/E/G ratio of 2.58 and a beta of 0.93. The company has a current ratio of 2.83, a quick ratio of 2.77 and a debt-to-equity ratio of 0.83.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Thursday, March 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.36%. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 117.08%.
In related news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the completion of the transaction, the chief executive officer now owns 3,340,000 shares in the company, valued at approximately $95,791,200. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 49.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lindsell Train Ltd raised its stake in shares of World Wrestling Entertainment by 2.1% during the 3rd quarter. Lindsell Train Ltd now owns 7,232,868 shares of the company’s stock worth $170,334,000 after acquiring an additional 150,000 shares in the last quarter. BlackRock Inc. raised its stake in shares of World Wrestling Entertainment by 3.8% during the 4th quarter. BlackRock Inc. now owns 4,889,363 shares of the company’s stock worth $149,516,000 after acquiring an additional 179,730 shares in the last quarter. State Street Corp raised its stake in shares of World Wrestling Entertainment by 5.5% during the 2nd quarter. State Street Corp now owns 872,209 shares of the company’s stock worth $17,763,000 after acquiring an additional 45,601 shares in the last quarter. Davidson Kempner Capital Management LP raised its stake in shares of 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, Sirios Capital Management L P raised its stake in shares of World Wrestling Entertainment by 19.8% during the 4th quarter. Sirios Capital Management L P now owns 718,392 shares of the company’s stock worth $21,969,000 after acquiring an additional 118,658 shares in the last quarter. Hedge funds and other institutional investors own 49.59% 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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