New York State Teachers Retirement System lowered its position in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 0.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 53,169 shares of the company’s stock after selling 400 shares during the period. New York State Teachers Retirement System’s holdings in World Wrestling Entertainment were worth $3,731,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in WWE. Principal Financial Group Inc. increased its position in shares of World Wrestling Entertainment by 188.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,164,418 shares of the company’s stock valued at $72,765,000 after buying an additional 760,365 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of World Wrestling Entertainment by 112.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,227,200 shares of the company’s stock valued at $76,688,000 after buying an additional 648,300 shares in the last quarter. Victory Capital Management Inc. increased its holdings in World Wrestling Entertainment by 105.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,169,685 shares of the company’s stock worth $73,094,000 after purchasing an additional 599,937 shares in the last quarter. Driehaus Capital Management LLC bought a new position in World Wrestling Entertainment during the 2nd quarter worth about $16,219,000. Finally, Northern Trust Corp increased its holdings in World Wrestling Entertainment by 30.1% during the 1st quarter. Northern Trust Corp now owns 891,045 shares of the company’s stock worth $55,636,000 after purchasing an additional 206,413 shares in the last quarter. Institutional investors own 69.60% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Citigroup upped their price objective on World Wrestling Entertainment to $86.00 in a research report on Tuesday, November 15th. Morgan Stanley upped their price objective on World Wrestling Entertainment from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 29th. MKM Partners upped their price objective on World Wrestling Entertainment from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 19th. StockNews.com assumed coverage on World Wrestling Entertainment in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Loop Capital upped their price objective on World Wrestling Entertainment from $90.00 to $105.00 in a research report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.70.
World Wrestling Entertainment Stock Performance
World Wrestling Entertainment (NYSE:WWE – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.65 EPS for the quarter, topping 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 business had revenue of $304.60 million for the quarter, compared to analyst estimates of $285.73 million. On average, equities research analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, December 27th. Investors of record on Thursday, December 15th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, December 14th. World Wrestling Entertainment’s dividend payout ratio is 18.46%.
World Wrestling Entertainment Company 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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