World Wrestling Entertainment (WWE) Given “Buy” Rating at MKM Partners

World Wrestling Entertainment (NYSE:WWE)‘s stock had its “buy” rating restated by research analysts at MKM Partners in a report released on Tuesday. They presently have a $44.00 target price on the stock, up from their previous target price of $41.00. MKM Partners’ price objective indicates a potential upside of 24.22% from the company’s previous close.

Several other research firms also recently issued reports on WWE. Citigroup downgraded World Wrestling Entertainment from a “buy” rating to a “neutral” rating and boosted their price target for the company from $29.00 to $33.00 in a research note on Saturday, December 30th. Zacks Investment Research downgraded World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. JPMorgan Chase & Co. initiated coverage on World Wrestling Entertainment in a research note on Wednesday, December 6th. They issued an “overweight” rating for the company. Benchmark restated a “buy” rating and issued a $40.00 price target (up from $28.00) on shares of World Wrestling Entertainment in a research note on Friday. Finally, Wells Fargo & Co upgraded World Wrestling Entertainment from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $37.89.

World Wrestling Entertainment (WWE) traded up $0.06 on Tuesday, reaching $35.42. The company had a trading volume of 707,165 shares, compared to its average volume of 885,192. The company has a market cap of $2,686.41, a P/E ratio of 86.39, a PEG ratio of 2.58 and a beta of 0.93. World Wrestling Entertainment has a twelve month low of $19.12 and a twelve month high of $36.91. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.77.

World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $211.60 million during the quarter, compared to the consensus estimate of $208.51 million. World Wrestling Entertainment had a return on equity of 20.50% and a net margin of 4.07%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. sell-side analysts predict that World Wrestling Entertainment will post 0.68 EPS for the current year.

In other news, SVP Blake Timothy Bilstad sold 1,419 shares of the company’s stock in a transaction on Sunday, February 11th. The stock was sold at an average price of $35.53, for a total transaction of $50,417.07. Following the completion of the sale, the senior vice president now directly owns 24,121 shares in the company, valued at approximately $857,019.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $28.68, for a total value of $95,791,200.00. Following the sale, the chief executive officer now owns 3,340,000 shares of the company’s stock, valued at $95,791,200. The disclosure for this sale can be found here. Corporate insiders own 49.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Lindsell Train Ltd raised its holdings 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 buying an additional 150,000 shares in the last quarter. BlackRock Inc. raised its holdings 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 buying an additional 179,730 shares in the last quarter. State Street Corp raised its holdings 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 buying an additional 45,601 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of World Wrestling Entertainment by 71.3% during the 4th quarter. Renaissance Technologies LLC now owns 853,800 shares of the company’s stock worth $26,109,000 after buying an additional 355,400 shares in the last quarter. Finally, Davidson Kempner Capital Management LP raised its holdings 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 buying an additional 537,500 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.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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