Royce & Associates LP Cuts Stake in World Wrestling Entertainment, Inc. (NYSE:WWE)

Royce & Associates LP reduced its stake in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating ) by 47.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,571 shares of the company’s stock after selling 24,167 shares during the quarter. Royce & Associates LP’s holdings in World Wrestling Entertainment were worth $1,864,000 at the end of the most recent quarter.

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A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of World Wrestling Entertainment by 44.8% in the 3rd quarter. Barclays PLC now owns 35,388 shares of the company’s stock valued at $2,484,000 after purchasing an additional 10,955 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in World Wrestling Entertainment in the 3rd quarter worth about $2,131,000. Assetmark Inc. raised its stake in World Wrestling Entertainment by 4,113.8% in the 3rd quarter. Assetmark Inc. now owns 35,312 shares of the company’s stock valued at $2,478,000 after acquiring an additional 34,474 shares during the period. Zenyatta Capital Management LP raised its stake in World Wrestling Entertainment by 1,300.0% in the 3rd quarter. Zenyatta Capital Management LP now owns 70,000 shares of the company’s stock valued at $4,912,000 after acquiring an additional 65,000 shares during the period. Finally, Wipfli Financial Advisors LLC bought a new stake in World Wrestling Entertainment in the 3rd quarter valued at about $32,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

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Changes in analyst ratings

A number of brokerages recently issued reports on WWE. Wells Fargo & Company upgraded World Wrestling Entertainment from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $52.00 to $100.00 in a research note on Tuesday, January 17th. Citigroup boosted their price objective on World Wrestling Entertainment to $86.00 in a research note on Tuesday, November 15th. Loop Capital boosted their price objective on World Wrestling Entertainment from $90.00 to $105.00 in a research note on Friday, January 6th. Morgan Stanley boosted their price objective on World Wrestling Entertainment from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 17th. Finally, StockNews.com began coverage on shares of World Wrestling Entertainment in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.20.

World Wrestling Entertainment falls 1.4%

Shares of WWE stock opened at $87.12 on Wednesday. The firm’s 50 day simple moving average is $78.31 and its 200 day simple moving average is $73.62. The company has a market cap of $6.48 billion, a P/E ratio of 33.51 and a beta of 1.13. The company has a debt ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.46. World Wrestling Entertainment, Inc. has a 1-year low of $47.71 and a 1-year high of $93.63.

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World Wrestling Entertainment (NYSE:WWE – Get Rating ) last released its earnings results on Wednesday, November 2nd. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. The company had revenue of $304.60 million for the quarter, compared to the consensus estimate of $285.73 million. World Wrestling Entertainment had a net margin of 17.29% and a return on equity of 54.64%. Sell-side analysts predict that World Wrestling Entertainment, Inc. will deliver 2.57 earnings per share for the current financial year.

Dividend announcement for World Wrestling Entertainment

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 27th. Investors of record on Thursday, December 15th were paid a $0.12 dividend. This represents an annualized dividend of $0.48 and a yield of 0.55%. The ex-dividend date was Wednesday, December 14th. World Wrestling Entertainment’s dividend yield is currently 18.46%.

Company profile for World Wrestling Entertainment

(Get rating)

World Wrestling Entertainment, Inc. is an integrated media and entertainment company. The company is engaged in the production and distribution of content through various channels, including the premium over-the-top network, monetized through licensing arrangements or through direct-to-consumer subscriptions, content rights agreements, premium live event programming, filmed entertainment , live events, licensing various WWE-themed products, and selling consumer products with its brands.

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Selected articles

Institutional Ownership by Quarter of World Wrestling Entertainment (NYSE:WWE)

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