Loop Capital Upgrades World Wrestling Entertainment (NYSE:WWE) to “Buy”

Loop Capital upgraded shares of World Wrestling Entertainment (NYSE:WWEGet Rating) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The firm currently has $90.00 price target on the stock, down from their prior price target of $159.00.

Several other equities analysts have also recently weighed in on the stock. MKM Partners raised their target price on shares of World Wrestling Entertainment from $70.00 to $79.00 and gave the company a buy rating in a research note on Monday, July 25th. Wolfe Research lifted their target price on World Wrestling Entertainment from $57.00 to $68.00 and gave the stock a peer perform rating in a report on Thursday, June 2nd. Morgan Stanley boosted their price target on World Wrestling Entertainment from $60.00 to $75.00 and gave the company an equal weight rating in a research note on Wednesday, June 15th. Guggenheim boosted their price target on World Wrestling Entertainment from $75.00 to $82.00 and gave the company a buy rating in a research note on Thursday, June 16th. Finally, Barclays boosted their price target on World Wrestling Entertainment from $55.00 to $57.00 and gave the company an equal weight rating in a research note on Thursday, April 7th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $73.44.

World Wrestling Entertainment Stock Performance

Shares of NYSE:WWE opened at $70.85 on Wednesday. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 29.64 and a beta of 1.20. The firm’s 50 day simple moving average is $65.25 and its 200 day simple moving average is $60.60. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.53 and a quick ratio of 1.51. World Wrestling Entertainment has a fifty-two week low of $46.81 and a fifty-two week high of $73.34.

World Wrestling Entertainment (NYSE:WWEGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.68 by $0.09. The firm had revenue of $333.40 million for the quarter, compared to the consensus estimate of $325.70 million. World Wrestling Entertainment had a net margin of 17.40% and a return on equity of 53.60%. The business’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. As a group, sell-side analysts forecast that World Wrestling Entertainment will post 2.39 earnings per share for the current year.

World Wrestling Entertainment Announces Dividend

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

Insider Transactions at World Wrestling Entertainment

In other news, insider Kevin Dunn sold 15,000 shares of the business’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 directly owns 271,171 shares in the company, valued at $18,087,105.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 41.40% of the company’s stock.

Institutional Trading of World Wrestling Entertainment

Institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp bought a new stake in World Wrestling Entertainment in the first quarter valued at approximately $378,000. FDx Advisors Inc. lifted its stake in World Wrestling Entertainment by 9.3% in the fourth quarter. FDx Advisors Inc. now owns 4,964 shares of the company’s stock valued at $245,000 after buying an additional 421 shares during the period. Signaturefd LLC lifted its stake in World Wrestling Entertainment by 67.6% in the first quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $31,000 after buying an additional 198 shares during the period. Bristlecone Advisors LLC acquired a new position in World Wrestling Entertainment in the first quarter valued at approximately $228,000. Finally, Qube Research & Technologies Ltd acquired a new position in World Wrestling Entertainment in the fourth quarter valued at approximately $11,283,000. 70.21% of the stock is currently owned by institutional investors.

World Wrestling Entertainment Company 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.

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