Swiss National Bank boosted its holdings in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 22.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,400 shares of the company’s stock after buying an additional 16,200 shares during the quarter. Swiss National Bank owned approximately 0.11% of World Wrestling Entertainment worth $6,311,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its stake in World Wrestling Entertainment by 2.7% in the 1st quarter. Wells Fargo & Company MN now owns 1,108,669 shares of the company’s stock valued at $96,212,000 after acquiring an additional 29,097 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of World Wrestling Entertainment by 0.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,106,935 shares of the company’s stock valued at $96,060,000 after purchasing an additional 9,362 shares in the last quarter. Geode Capital Management LLC grew its position in shares of World Wrestling Entertainment by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 504,124 shares of the company’s stock valued at $37,668,000 after buying an additional 71,849 shares during the last quarter. Principal Financial Group Inc. grew its position in World Wrestling Entertainment by 53.8% during the 1st quarter. Principal Financial Group Inc. now owns 340,702 shares of the company’s stock worth $29,566,000 after purchasing an additional 119,174 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in World Wrestling Entertainment by 57.1% during the 1st quarter. Neuberger Berman Group LLC now owns 266,294 shares of the company’s stock worth $23,109,000 after purchasing an additional 96,801 shares during the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.
In other World Wrestling Entertainment news, insider George A. Barrios sold 74,678 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $70.06, for a total transaction of $5,231,940.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin Dunn sold 14,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $73.40, for a total value of $1,027,600.00. Following the transaction, the insider now owns 135,059 shares in the company, valued at approximately $9,913,330.60. The disclosure for this sale can be found here. Insiders sold 255,047 shares of company stock worth $17,794,397 in the last 90 days. 43.90% of the stock is currently owned by corporate insiders.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14. World Wrestling Entertainment had a return on equity of 23.92% and a net margin of 8.42%. The firm had revenue of $268.90 million for the quarter, compared to the consensus estimate of $271.21 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. On average, analysts predict that World Wrestling Entertainment, Inc. will post 0.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, September 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. World Wrestling Entertainment’s dividend payout ratio is currently 42.86%.
A number of research firms have recently weighed in on WWE. Loop Capital raised shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Thursday, May 2nd. ValuEngine cut shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Morgan Stanley decreased their target price on shares of World Wrestling Entertainment from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Guggenheim restated a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of World Wrestling Entertainment in a research report on Tuesday, June 25th. Finally, Benchmark upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. World Wrestling Entertainment currently has an average rating of “Buy” and an average target price of $101.25.
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 in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.
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