New York State Common Retirement Fund grew its stake in World Wrestling Entertainment, Inc. (NYSE:WWE) by 84.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,038 shares of the company’s stock after acquiring an additional 40,338 shares during the quarter. New York State Common Retirement Fund owned 0.11% of World Wrestling Entertainment worth $6,578,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new position in shares of World Wrestling Entertainment in the 4th quarter valued at approximately $71,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of World Wrestling Entertainment by 11.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,505 shares of the company’s stock valued at $187,000 after purchasing an additional 259 shares during the period. Hartford Investment Management Co. acquired a new position in shares of World Wrestling Entertainment in the 3rd quarter valued at approximately $214,000. LPL Financial LLC acquired a new position in shares of World Wrestling Entertainment in the 3rd quarter valued at approximately $219,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of World Wrestling Entertainment in the 3rd quarter valued at approximately $222,000. 63.21% of the stock is owned by institutional investors.
WWE has been the subject of several research analyst reports. Guggenheim boosted their price objective on World Wrestling Entertainment from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, November 28th. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Monday, January 14th. KeyCorp set a $104.00 price target on World Wrestling Entertainment and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Loop Capital began coverage on World Wrestling Entertainment in a research report on Friday, December 21st. They set a “hold” rating and a $85.00 price target for the company. Finally, FBN Securities raised World Wrestling Entertainment from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, November 27th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. World Wrestling Entertainment has an average rating of “Buy” and a consensus target price of $95.31.
NYSE:WWE opened at $90.63 on Friday. World Wrestling Entertainment, Inc. has a twelve month low of $34.69 and a twelve month high of $97.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.33 and a quick ratio of 1.30. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 80.92 and a beta of 1.36.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. World Wrestling Entertainment had a return on equity of 34.02% and a net margin of 10.71%. The firm had revenue of $272.50 million during the quarter, compared to the consensus estimate of $255.01 million. During the same quarter in the prior year, the firm posted $0.20 EPS. The business’s revenue was up 28.8% on a year-over-year basis. On average, sell-side analysts forecast that World Wrestling Entertainment, Inc. will post 1.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Thursday, March 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 42.86%.
In other news, insider George A. Barrios sold 60,000 shares of the stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $81.52, for a total value of $4,891,200.00. Following the completion of the sale, the insider now owns 287,103 shares of the company’s stock, valued at approximately $23,404,636.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider George A. Barrios sold 37,500 shares of the stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $70.61, for a total value of $2,647,875.00. Following the completion of the sale, the insider now directly owns 356,946 shares of the company’s stock, valued at approximately $25,203,957.06. The disclosure for this sale can be found here. In the last three months, insiders sold 137,500 shares of company stock valued at $10,891,075. 43.90% of the stock is currently owned by insiders.
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World Wrestling Entertainment Profile
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. It operates in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.
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