North Star Investment Management Corp. lowered its stake in World Wrestling Entertainment, Inc. (NYSE:WWE) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,900 shares of the company’s stock after selling 100 shares during the period. North Star Investment Management Corp. owned about 0.08% of World Wrestling Entertainment worth $1,281,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of WWE. Comerica Bank increased its position in World Wrestling Entertainment by 9.8% in the fourth quarter. Comerica Bank now owns 40,814 shares of the company’s stock valued at $795,000 after buying an additional 3,643 shares during the last quarter. State Street Corp increased its position in World Wrestling Entertainment by 7.7% in the fourth quarter. State Street Corp now owns 756,551 shares of the company’s stock valued at $13,922,000 after buying an additional 54,238 shares during the last quarter. Dimensional Fund Advisors LP increased its position in World Wrestling Entertainment by 305.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,266 shares of the company’s stock valued at $3,666,000 after buying an additional 150,137 shares during the last quarter. New York State Teachers Retirement System increased its position in World Wrestling Entertainment by 9.7% in the fourth quarter. New York State Teachers Retirement System now owns 14,700 shares of the company’s stock valued at $270,000 after buying an additional 1,300 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in World Wrestling Entertainment by 10.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 20,700 shares of the company’s stock valued at $381,000 after buying an additional 1,880 shares during the last quarter. Institutional investors own 49.54% of the company’s stock.
World Wrestling Entertainment, Inc. (WWE) traded down 2.33% during trading on Friday, reaching $21.38. 3,898,306 shares of the company’s stock were exchanged. The firm has a market cap of $1.64 billion, a P/E ratio of 64.98 and a beta of 0.82. The stock’s 50 day moving average price is $20.80 and its 200 day moving average price is $20.73. World Wrestling Entertainment, Inc. has a 52-week low of $16.77 and a 52-week high of $23.14.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $214.60 million for the quarter, compared to analyst estimates of $209.28 million. World Wrestling Entertainment had a net margin of 3.29% and a return on equity of 13.07%. World Wrestling Entertainment’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. Equities research analysts anticipate that World Wrestling Entertainment, Inc. will post $0.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 2.25%. World Wrestling Entertainment’s payout ratio is 154.84%.
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WWE has been the topic of several research reports. BTIG Research restated a “buy” rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a report on Sunday, April 2nd. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of World Wrestling Entertainment in a research report on Tuesday, April 4th. TheStreet upgraded shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. ValuEngine upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Morgan Stanley started coverage on shares of World Wrestling Entertainment in a research report on Friday, June 30th. They set an “equal weight” rating and a $23.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $23.98.
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.
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