Kevin Dunn Sells 15,000 Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) Stock

World Wrestling Entertainment, Inc. (NYSE:WWEGet Rating) insider Kevin Dunn sold 15,000 shares of the stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $66.70, for a total transaction of $1,000,500.00. Following the sale, the insider now directly owns 271,171 shares of the company’s stock, valued at $18,087,105.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

WWE traded down $0.37 during trading on Tuesday, reaching $66.77. 550,760 shares of the company’s stock were exchanged, compared to its average volume of 660,319. World Wrestling Entertainment, Inc. has a 1 year low of $46.81 and a 1 year high of $70.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.53 and a quick ratio of 1.51. The stock has a market capitalization of $4.96 billion, a P/E ratio of 27.83 and a beta of 1.24. The company’s fifty day simple moving average is $60.88 and its 200-day simple moving average is $55.60.

World Wrestling Entertainment (NYSE:WWEGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. World Wrestling Entertainment had a net margin of 17.40% and a return on equity of 53.60%. The company had revenue of $333.40 million during the quarter, compared to analyst estimates of $325.70 million. During the same period last year, the firm posted $0.51 EPS. World Wrestling Entertainment’s revenue for the quarter was up 26.5% compared to the same quarter last year. Equities analysts forecast that World Wrestling Entertainment, Inc. will post 2.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 27th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, June 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.72%. World Wrestling Entertainment’s payout ratio is 20.08%.

WWE has been the subject of several analyst reports. TheStreet raised shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research report on Monday, May 16th. Barclays increased their price target on shares of World Wrestling Entertainment from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, April 7th. Zacks Investment Research lowered shares of World Wrestling Entertainment from a “strong-buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Wednesday, April 6th. Benchmark increased their price objective on shares of World Wrestling Entertainment from $68.00 to $71.00 in a research report on Friday, February 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of World Wrestling Entertainment from $58.00 to $64.00 in a research report on Thursday, April 21st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, World Wrestling Entertainment presently has a consensus rating of “Hold” and a consensus price target of $63.88.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ninety One UK Ltd acquired a new stake in shares of World Wrestling Entertainment during the 1st quarter worth approximately $70,536,000. Origin Asset Management LLP acquired a new stake in shares of World Wrestling Entertainment during the 1st quarter worth approximately $378,000. BNP Paribas Arbitrage SA grew its stake in shares of World Wrestling Entertainment by 9.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 23,643 shares of the company’s stock worth $1,476,000 after purchasing an additional 2,125 shares during the period. Point72 Hong Kong Ltd grew its stake in shares of World Wrestling Entertainment by 152.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,387 shares of the company’s stock worth $149,000 after purchasing an additional 1,440 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of World Wrestling Entertainment during the 1st quarter worth approximately $1,549,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

About World Wrestling Entertainment (Get Rating)

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 through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment.

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