Strs Ohio Reduces Stock Holdings in World Wrestling Entertainment, Inc. (NYSE:WWE)

Strs Ohio lowered its stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWEGet Rating) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,564 shares of the company’s stock after selling 1,102 shares during the period. Strs Ohio’s holdings in World Wrestling Entertainment were worth $1,162,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WWE. Allworth Financial LP increased its stake in World Wrestling Entertainment by 84.4% in the third quarter. Allworth Financial LP now owns 402 shares of the company’s stock valued at $28,000 after acquiring an additional 184 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in World Wrestling Entertainment in the third quarter worth about $32,000. Parallel Advisors LLC lifted its holdings in World Wrestling Entertainment by 26.5% in the second quarter. Parallel Advisors LLC now owns 745 shares of the company’s stock worth $47,000 after buying an additional 156 shares during the period. Assetmark Inc. bought a new position in shares of World Wrestling Entertainment during the second quarter valued at approximately $52,000. Finally, Eagle Bay Advisors LLC increased its stake in shares of World Wrestling Entertainment by 82.9% during the second quarter. Eagle Bay Advisors LLC now owns 887 shares of the company’s stock valued at $55,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 69.60% of the company’s stock.

World Wrestling Entertainment Price Performance

World Wrestling Entertainment stock opened at $89.40 on Friday. World Wrestling Entertainment, Inc. has a 12-month low of $47.71 and a 12-month high of $93.63. The stock has a market cap of $6.65 billion, a P/E ratio of 34.38 and a beta of 1.13. The company has a 50-day moving average price of $76.44 and a 200 day moving average price of $72.21. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.82.

World Wrestling Entertainment (NYSE:WWEGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. World Wrestling Entertainment had a net margin of 17.29% and a return on equity of 54.64%. The firm had revenue of $304.60 million during the quarter, compared to analysts’ expectations of $285.73 million. Sell-side analysts anticipate that World Wrestling Entertainment, Inc. will post 2.57 earnings per share for the current year.

World Wrestling Entertainment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 27th. Stockholders of record on Thursday, December 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. World Wrestling Entertainment’s payout ratio is 18.46%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WWE. Citigroup raised their price target on shares of World Wrestling Entertainment to $86.00 in a research report on Tuesday, November 15th. MKM Partners lifted their target price on shares of World Wrestling Entertainment from $84.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, October 19th. Loop Capital lifted their price target on shares of World Wrestling Entertainment from $90.00 to $105.00 in a report on Friday, January 6th. Morgan Stanley lifted their price target on shares of World Wrestling Entertainment from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, November 29th. Finally, StockNews.com started coverage on shares of World Wrestling Entertainment in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.70.

World Wrestling Entertainment Profile

(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.

See Also

Institutional Ownership by Quarter for World Wrestling Entertainment (NYSE:WWE)

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