StockNews.com Initiates Coverage on World Wrestling Entertainment (NYSE:WWE)

Research analysts at StockNews.com initiated coverage on shares of World Wrestling Entertainment (NYSE:WWE – Get Rating) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Several other research analysts also recently issued reports on the stock. Citigroup upped their target price on shares of World Wrestling Entertainment from $115.00 to $125.00 in a research note on Thursday, May 11th. 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of World Wrestling Entertainment in a research note on Thursday, May 4th. Wells Fargo & Company upped their target price on shares of World Wrestling Entertainment from $100.00 to $109.00 in a research note on Wednesday, May 3rd. Guggenheim upped their target price on shares of World Wrestling Entertainment from $105.00 to $114.00 in a research note on Wednesday, April 12th. Finally, Wolfe Research cut shares of World Wrestling Entertainment from an “outperform” rating to a “peer perform” rating in a report on Monday, January 30th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $105.56.

World Wrestling Entertainment Trading Up 0.3 %

Shares of WWE opened at $101.94 on Tuesday. The firm’s 50-day moving average price is $99.22 and its 200-day moving average price is $87.25. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 52.28 and a beta of 1.19. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.66. World Wrestling Entertainment has a 1-year low of $58.72 and a 1-year high of $110.24.

Institutional Trading of World Wrestling Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC boosted its position in shares of World Wrestling Entertainment by 6.4% in the first quarter. Rice Hall James & Associates LLC now owns 767,630 shares of the company’s stock worth $47,931,000 after purchasing an additional 46,351 shares during the period. US Bancorp DE boosted its position in shares of World Wrestling Entertainment by 55.9% in the first quarter. US Bancorp DE now owns 957 shares of the company’s stock worth $59,000 after purchasing an additional 343 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of World Wrestling Entertainment during the first quarter worth $235,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of World Wrestling Entertainment by 11,166.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,280 shares of the company’s stock worth $1,266,000 after acquiring an additional 20,100 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of World Wrestling Entertainment by 38.2% during the first quarter. MetLife Investment Management LLC now owns 29,949 shares of the company’s stock worth $1,870,000 after acquiring an additional 8,279 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

About World Wrestling Entertainment

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World Wrestling Entertainment, Inc is an integrated media and entertainment company, which engages in the production and distribution of content through various channels. It operates through the following business segments: Media, Live Events, and Consumer Products. The Media segment reflects the production and monetization of long-form and short-form video content across various platforms including WWE Network, broadcast and pay television, digital and social media, as well as filmed entertainment.