Park Avenue Securities LLC raised its stake in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,094 shares of the company’s stock after acquiring an additional 1,503 shares during the period. Park Avenue Securities LLC’s holdings in World Wrestling Entertainment were worth $568,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WWE. FDx Advisors Inc. increased its stake in shares of World Wrestling Entertainment by 9.3% in the 4th quarter. FDx Advisors Inc. now owns 4,964 shares of the company’s stock valued at $245,000 after purchasing an additional 421 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of World Wrestling Entertainment by 11.2% in the 4th quarter. New York State Teachers Retirement System now owns 53,687 shares of the company’s stock valued at $2,649,000 after purchasing an additional 5,390 shares during the last quarter. Bristlecone Advisors LLC bought a new position in shares of World Wrestling Entertainment in the 1st quarter valued at $228,000. Qube Research & Technologies Ltd bought a new position in shares of World Wrestling Entertainment in the 4th quarter valued at $11,283,000. Finally, WINTON GROUP Ltd increased its stake in shares of World Wrestling Entertainment by 24.1% in the 4th quarter. WINTON GROUP Ltd now owns 51,488 shares of the company’s stock valued at $2,540,000 after purchasing an additional 9,985 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on WWE shares. StockNews.com started coverage on World Wrestling Entertainment in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Barclays boosted their price objective on World Wrestling Entertainment from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th. Wolfe Research boosted their price objective on World Wrestling Entertainment from $57.00 to $68.00 and gave the stock a “peer perform” rating in a research report on Thursday, June 2nd. JPMorgan Chase & Co. boosted their price objective on World Wrestling Entertainment from $58.00 to $64.00 in a research report on Thursday, April 21st. Finally, Morgan Stanley boosted their price objective on World Wrestling Entertainment from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 15th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.78.
World Wrestling Entertainment Stock Up 0.6 %
World Wrestling Entertainment (NYSE:WWE – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.68 by $0.09. World Wrestling Entertainment had a return on equity of 53.60% and a net margin of 17.40%. The company had revenue of $333.40 million for the quarter, compared to analyst estimates of $325.70 million. During the same quarter in the prior year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. Equities research analysts anticipate that World Wrestling Entertainment, Inc. will post 2.39 EPS for the current year.
World Wrestling Entertainment Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 27th. Investors of record on Wednesday, June 15th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, June 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. World Wrestling Entertainment’s payout ratio is 20.08%.
Insider Activity at World Wrestling Entertainment
In related news, insider Kevin Dunn sold 15,000 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $66.70, for a total transaction of $1,000,500.00. Following the sale, the insider now owns 271,171 shares in the company, valued at approximately $18,087,105.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 41.40% of the stock is owned by corporate insiders.
World Wrestling Entertainment Profile
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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