World Wrestling Entertainment (NYSE:WWE) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a report released on Saturday. They currently have a $33.00 target price on the stock, up from their previous target price of $29.00. Citigroup’s price target suggests a potential upside of 7.91% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. assumed coverage on World Wrestling Entertainment in a report on Wednesday, December 6th. They set an “overweight” rating on the stock. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a research note on Tuesday, September 26th. Zacks Investment Research lowered shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. KeyCorp reiterated a “hold” rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. Finally, FBN Securities lowered shares of World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research note on Monday, October 30th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. World Wrestling Entertainment presently has a consensus rating of “Buy” and a consensus price target of $26.25.
Shares of World Wrestling Entertainment (WWE) opened at $30.58 on Friday. The firm has a market capitalization of $2,339.43, a P/E ratio of 57.24, a PEG ratio of 2.64 and a beta of 0.87. The company has a current ratio of 2.68, a quick ratio of 2.62 and a debt-to-equity ratio of 0.83. World Wrestling Entertainment has a twelve month low of $18.00 and a twelve month high of $33.28.
In other World Wrestling Entertainment news, CEO Vincent K. Mcmahon sold 3,340,000 shares of World Wrestling Entertainment stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,340,000 shares in the company, valued at $95,791,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Blake Timothy Bilstad sold 1,801 shares of World Wrestling Entertainment stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total transaction of $47,546.40. The disclosure for this sale can be found here. 49.80% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. grew its position in World Wrestling Entertainment by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock worth $104,000 after buying an additional 51 shares during the last quarter. Aperio Group LLC grew its position in World Wrestling Entertainment by 2.1% in the second quarter. Aperio Group LLC now owns 10,469 shares of the company’s stock worth $213,000 after buying an additional 220 shares during the last quarter. Thrivent Financial For Lutherans grew its position in World Wrestling Entertainment by 7.1% in the second quarter. Thrivent Financial For Lutherans now owns 23,290 shares of the company’s stock worth $474,000 after buying an additional 1,550 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in World Wrestling Entertainment by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,110 shares of the company’s stock worth $634,000 after buying an additional 1,846 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in World Wrestling Entertainment by 8.1% in the second quarter. Victory Capital Management Inc. now owns 28,026 shares of the company’s stock worth $571,000 after buying an additional 2,094 shares during the last quarter. Hedge funds and other institutional investors own 49.75% of the company’s stock.
World Wrestling Entertainment Company Profile
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.
