GSA Capital Partners LLP reduced its stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 17.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,100 shares of the company’s stock after selling 2,900 shares during the quarter. GSA Capital Partners LLP’s holdings in World Wrestling Entertainment were worth $1,364,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of WWE. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of World Wrestling Entertainment by 48.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,246 shares of the company’s stock worth $164,000 after purchasing an additional 734 shares during the last quarter. Strs Ohio purchased a new stake in shares of World Wrestling Entertainment during the 2nd quarter worth $167,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of World Wrestling Entertainment during the 2nd quarter worth $212,000. Hartford Investment Management Co. purchased a new stake in shares of World Wrestling Entertainment during the 3rd quarter worth $214,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of World Wrestling Entertainment during the 3rd quarter worth $222,000. Hedge funds and other institutional investors own 59.92% of the company’s stock.
World Wrestling Entertainment stock opened at $75.05 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.26 and a quick ratio of 1.23. World Wrestling Entertainment, Inc. has a one year low of $28.80 and a one year high of $97.69. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 115.46 and a beta of 1.13.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.18. World Wrestling Entertainment had a return on equity of 27.69% and a net margin of 7.27%. The company had revenue of $188.40 million during the quarter, compared to analysts’ expectations of $203.08 million. As a group, equities analysts predict that World Wrestling Entertainment, Inc. will post 0.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, December 13th. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 73.85%.
A number of equities research analysts recently weighed in on the company. Wolfe Research assumed coverage on World Wrestling Entertainment in a research note on Friday. They set an “outperform” rating for the company. Cannonball Research upgraded World Wrestling Entertainment to a “buy” rating and set a $95.00 price objective for the company in a research note on Thursday, October 11th. Guggenheim upped their price objective on World Wrestling Entertainment from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, November 28th. FBN Securities upgraded World Wrestling Entertainment from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, November 27th. Finally, KeyCorp restated a “buy” rating on shares of World Wrestling Entertainment in a research note on Friday, October 26th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $87.42.
In other news, insider George A. Barrios sold 50,000 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $96.22, for a total value of $4,811,000.00. Following the transaction, the insider now directly owns 173,661 shares of the company’s stock, valued at $16,709,661.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent K. Mcmahon sold 306,000 shares of the stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $74.73, for a total value of $22,867,380.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 396,000 shares of company stock valued at $30,335,605. 45.10% of the stock is currently owned by company insiders.
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About World Wrestling Entertainment
World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.
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