EverSource Wealth Advisors LLC decreased its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 35.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 743 shares of the company’s stock after selling 410 shares during the period. EverSource Wealth Advisors LLC’s holdings in World Wrestling Entertainment were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Origin Asset Management LLP acquired a new stake in shares of World Wrestling Entertainment in the first quarter valued at approximately $378,000. BNP Paribas Arbitrage SA increased its holdings in shares of World Wrestling Entertainment by 9.9% in the first quarter. BNP Paribas Arbitrage SA now owns 23,643 shares of the company’s stock valued at $1,476,000 after purchasing an additional 2,125 shares in the last quarter. Point72 Hong Kong Ltd increased its holdings in shares of World Wrestling Entertainment by 152.1% in the first quarter. Point72 Hong Kong Ltd now owns 2,387 shares of the company’s stock valued at $149,000 after purchasing an additional 1,440 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of World Wrestling Entertainment in the first quarter valued at approximately $1,549,000. Finally, Woodline Partners LP acquired a new stake in shares of World Wrestling Entertainment in the first quarter valued at approximately $6,433,000. Institutional investors and hedge funds own 69.94% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on WWE. MKM Partners raised their price target on shares of World Wrestling Entertainment from $79.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Northcoast Research lowered shares of World Wrestling Entertainment from a “buy” rating to a “neutral” rating in a report on Thursday, August 18th. They noted that the move was a valuation call. Benchmark lifted their target price on shares of World Wrestling Entertainment from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Barclays lifted their target price on shares of World Wrestling Entertainment from $61.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 17th. Finally, Wells Fargo & Company lifted their target price on shares of World Wrestling Entertainment from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, World Wrestling Entertainment has an average rating of “Hold” and a consensus price target of $77.80.
World Wrestling Entertainment Trading Down 0.8 %
World Wrestling Entertainment (NYSE:WWE – Get Rating) last posted its quarterly earnings data on Tuesday, August 16th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. The business had revenue of $328.20 million for the quarter, compared to analysts’ expectations of $322.38 million. World Wrestling Entertainment had a net margin of 18.12% and a return on equity of 54.63%. The firm’s revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. Equities research analysts predict that World Wrestling Entertainment, Inc. will post 2.49 EPS for the current year.
World Wrestling Entertainment Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Thursday, September 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, September 14th. World Wrestling Entertainment’s payout ratio is presently 18.25%.
About World Wrestling Entertainment
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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