Research analysts at Citigroup started coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a research note issued to investors on Tuesday, The Fly reports. The firm set a “buy” rating and a $85.00 price target on the stock. Citigroup‘s target price suggests a potential upside of 27.19% from the stock’s current price.
A number of other brokerages have also recently issued reports on WWE. KeyCorp dropped their price target on shares of World Wrestling Entertainment from $104.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. upped their price target on shares of World Wrestling Entertainment from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Benchmark upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Friday, July 26th. Loop Capital upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $100.00 in a research note on Thursday, May 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of World Wrestling Entertainment in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $102.73.
Shares of WWE stock traded up $3.36 during mid-day trading on Tuesday, reaching $66.83. 136,334 shares of the company’s stock traded hands, compared to its average volume of 1,468,403. World Wrestling Entertainment has a 12 month low of $58.50 and a 12 month high of $100.45. The firm has a market cap of $5.29 billion, a P/E ratio of 59.55 and a beta of 1.37. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $71.78.
World Wrestling Entertainment (NYSE:WWE) last announced its earnings results on Thursday, July 25th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.14. World Wrestling Entertainment had a net margin of 8.42% and a return on equity of 23.92%. The firm had revenue of $268.90 million for the quarter, compared to analysts’ expectations of $271.21 million. During the same quarter in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was down 4.5% on a year-over-year basis. On average, sell-side analysts expect that World Wrestling Entertainment will post 0.99 EPS for the current year.
In other World Wrestling Entertainment news, insider Kevin Dunn sold 14,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $73.40, for a total transaction of $1,027,600.00. Following the transaction, the insider now owns 135,059 shares in the company, valued at approximately $9,913,330.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider George A. Barrios sold 74,678 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $70.06, for a total transaction of $5,231,940.68. The disclosure for this sale can be found here. Insiders have sold a total of 255,047 shares of company stock worth $17,794,397 in the last 90 days. Company insiders own 43.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WWE. Lindsell Train Ltd increased its position in shares of World Wrestling Entertainment by 20.2% during the 2nd quarter. Lindsell Train Ltd now owns 7,168,643 shares of the company’s stock valued at $518,436,000 after purchasing an additional 1,205,461 shares during the last quarter. APG Asset Management N.V. increased its position in shares of World Wrestling Entertainment by 190.2% during the 2nd quarter. APG Asset Management N.V. now owns 765,600 shares of the company’s stock valued at $48,546,000 after purchasing an additional 501,800 shares during the last quarter. Norges Bank purchased a new stake in shares of World Wrestling Entertainment during the 4th quarter valued at about $31,712,000. Laurion Capital Management LP increased its position in shares of World Wrestling Entertainment by 249.3% during the 1st quarter. Laurion Capital Management LP now owns 200,100 shares of the company’s stock valued at $17,365,000 after purchasing an additional 334,091 shares during the last quarter. Finally, KCL Capital L.P. increased its holdings in World Wrestling Entertainment by 341.7% in the 1st quarter. KCL Capital L.P. now owns 265,000 shares of the company’s stock worth $22,996,000 after acquiring an additional 205,000 shares in the last quarter. 68.33% of the stock is owned by hedge funds and other institutional investors.
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. 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.
Read More: How to Invest in an Index Fund
Receive News & Ratings for World Wrestling Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Wrestling Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.