Needham & Company LLC restated their buy rating on shares of World Wrestling Entertainment (NYSE:WWE) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a $45.00 price objective on the stock, up from their prior price objective of $38.00.
Other research analysts have also recently issued reports about the company. MKM Partners restated a buy rating and set a $44.00 target price (up from $41.00) on shares of World Wrestling Entertainment in a report on Tuesday, February 13th. Guggenheim set a $40.00 target price on World Wrestling Entertainment and gave the stock a buy rating in a report on Thursday, January 11th. BTIG Research boosted their target price on World Wrestling Entertainment to $36.00 and gave the stock a buy rating in a report on Monday, January 8th. Benchmark restated a buy rating and set a $40.00 target price (up from $28.00) on shares of World Wrestling Entertainment in a report on Friday, February 9th. Finally, Zacks Investment Research upgraded World Wrestling Entertainment from a hold rating to a buy rating and set a $39.00 target price on the stock in a report on Saturday, February 3rd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $38.89.
World Wrestling Entertainment (WWE) opened at $38.22 on Wednesday. The firm has a market capitalization of $2,970.00, a P/E ratio of 68.25 and a beta of 0.84. World Wrestling Entertainment has a twelve month low of $19.12 and a twelve month high of $39.09. The company has a current ratio of 2.83, a quick ratio of 2.77 and a debt-to-equity ratio of 0.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Thursday, March 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, March 14th. World Wrestling Entertainment’s dividend payout ratio is presently 85.71%.
In other World Wrestling Entertainment news, SVP Mark Kowal sold 2,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $36.70, for a total transaction of $73,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Blake Timothy Bilstad sold 1,419 shares of the company’s stock in a transaction on Sunday, February 11th. The stock was sold at an average price of $35.53, for a total value of $50,417.07. Following the transaction, the senior vice president now owns 24,121 shares in the company, valued at $857,019.13. The disclosure for this sale can be found here. Insiders sold 3,343,419 shares of company stock worth $95,915,017 over the last quarter. 49.80% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in WWE. Elk Creek Partners LLC acquired a new position in World Wrestling Entertainment during the third quarter worth $11,725,000. Jane Street Group LLC acquired a new position in World Wrestling Entertainment during the fourth quarter worth $11,159,000. Renaissance Technologies LLC lifted its stake in World Wrestling Entertainment by 71.3% during the fourth quarter. Renaissance Technologies LLC now owns 853,800 shares of the company’s stock worth $26,109,000 after purchasing an additional 355,400 shares in the last quarter. Sirios Capital Management L P lifted its stake in World Wrestling Entertainment by 104.7% during the third quarter. Sirios Capital Management L P now owns 599,734 shares of the company’s stock worth $14,124,000 after purchasing an additional 306,719 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in World Wrestling Entertainment during the fourth quarter worth $8,908,000. Institutional investors own 55.29% of the company’s stock.
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World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.
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