North Star Investment Management Corp. reduced its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,900 shares of the company’s stock after selling 100 shares during the period. North Star Investment Management Corp. owned 0.08% of World Wrestling Entertainment worth $1,281,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in World Wrestling Entertainment by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 7,601 shares of the company’s stock worth $154,000 after buying an additional 3,351 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of World Wrestling Entertainment by 4.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock worth $195,000 after buying an additional 380 shares during the last quarter. Mason Street Advisors LLC raised its stake in shares of World Wrestling Entertainment by 7.1% in the first quarter. Mason Street Advisors LLC now owns 9,003 shares of the company’s stock worth $200,000 after buying an additional 600 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of World Wrestling Entertainment during the first quarter worth about $228,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of World Wrestling Entertainment during the first quarter worth about $229,000. Institutional investors and hedge funds own 49.46% of the company’s stock.
Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) opened at 20.99 on Friday. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 63.99 and a beta of 0.82. World Wrestling Entertainment, Inc. has a 12 month low of $16.77 and a 12 month high of $23.14. The stock’s 50 day moving average price is $20.84 and its 200-day moving average price is $20.79.
World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. The business had revenue of $214.60 million for the quarter, compared to analysts’ expectations of $209.28 million. World Wrestling Entertainment had a net margin of 3.29% and a return on equity of 13.07%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, equities research analysts predict that World Wrestling Entertainment, Inc. will post $0.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 15th will be given 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 2.29%. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 154.84%.
Several equities analysts have recently weighed in on the company. ValuEngine lowered World Wrestling Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Monday, July 31st. Benchmark Co. restated a “buy” rating and set a $25.00 price objective (down from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. Morgan Stanley started coverage on World Wrestling Entertainment in a report on Friday, June 30th. They set an “equal weight” rating and a $23.00 price objective on the stock. Finally, TheStreet upgraded World Wrestling Entertainment from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.38.
In other World Wrestling Entertainment news, EVP Casey Collins sold 13,383 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $21.23, for a total transaction of $284,121.09. Following the sale, the executive vice president now owns 43,926 shares of the company’s stock, valued at $932,548.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Michelle D. Wilson sold 55,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $21.25, for a total transaction of $1,168,750.00. Following the sale, the executive now directly owns 436,174 shares in the company, valued at approximately $9,268,697.50. The disclosure for this sale can be found here. Corporate insiders own 49.80% of the company’s stock.
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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