Victory Capital Management Inc. Raises Holdings in World Wrestling Entertainment, Inc. (NYSE:WWE)

Victory Capital Management Inc. lifted its holdings in shares of World Wrestling Entertainment, Inc. (NYSE:WWEGet Rating) by 53.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 569,748 shares of the company’s stock after buying an additional 198,269 shares during the period. Victory Capital Management Inc. owned about 0.76% of World Wrestling Entertainment worth $34,591,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WWE. Yousif Capital Management LLC purchased a new position in shares of World Wrestling Entertainment during the 4th quarter worth approximately $1,177,000. Qube Research & Technologies Ltd purchased a new position in World Wrestling Entertainment in the 4th quarter valued at approximately $11,283,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in World Wrestling Entertainment by 20.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,225 shares of the company’s stock valued at $307,000 after purchasing an additional 1,061 shares in the last quarter. FDx Advisors Inc. increased its stake in 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 in the last quarter. Finally, Duality Advisers LP purchased a new position in World Wrestling Entertainment in the 4th quarter valued at approximately $2,560,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

World Wrestling Entertainment Price Performance

WWE stock opened at $70.73 on Wednesday. World Wrestling Entertainment, Inc. has a 52-week low of $46.81 and a 52-week high of $73.34. The stock’s fifty day simple moving average is $64.92 and its 200-day simple moving average is $60.27. The company has a quick ratio of 1.51, a current ratio of 1.53 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 29.59 and a beta of 1.20.

World Wrestling Entertainment (NYSE:WWEGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.77 earnings per share (EPS) for the quarter, topping 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 business had revenue of $333.40 million for the quarter, compared to analysts’ expectations of $325.70 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue was up 26.5% on a year-over-year basis. Equities research analysts expect that World Wrestling Entertainment, Inc. will post 2.39 EPS for the current year.

World Wrestling Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Thursday, September 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, September 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 20.08%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. TheStreet raised World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research note on Monday, May 16th. Morgan Stanley increased their target price on World Wrestling Entertainment from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, June 15th. JPMorgan Chase & Co. increased their target price on World Wrestling Entertainment from $58.00 to $64.00 in a report on Thursday, April 21st. Barclays increased their target price on World Wrestling Entertainment from $57.00 to $61.00 and gave the company a “maintains” rating in a report on Monday, July 25th. Finally, MKM Partners increased their target price on World Wrestling Entertainment from $70.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 25th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.89.

Insider Buying and Selling

In related news, insider Kevin Dunn sold 15,000 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $66.70, for a total value of $1,000,500.00. Following the transaction, the insider now directly owns 271,171 shares of the company’s stock, valued at approximately $18,087,105.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 41.40% of the company’s stock.

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.

See Also

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

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