BlackRock Advisors LLC increased its position in World Wrestling Entertainment Inc. (NYSE:WWE) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 376,880 shares of the company’s stock after buying an additional 2,867 shares during the period. BlackRock Advisors LLC owned about 0.49% of World Wrestling Entertainment worth $6,938,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of World Wrestling Entertainment by 18.9% in the second quarter. California State Teachers Retirement System now owns 75,800 shares of the company’s stock worth $1,395,000 after buying an additional 12,070 shares during the period. Bbva Compass Bancshares Inc. acquired a new position in World Wrestling Entertainment during the second quarter worth about $197,000. Artemis Investment Management LLP acquired a new position in World Wrestling Entertainment during the second quarter worth about $10,621,000. Eagle Boston Investment Management Inc. boosted its position in World Wrestling Entertainment by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 429,494 shares of the company’s stock worth $7,906,000 after buying an additional 11,242 shares during the last quarter. Finally, First Manhattan Co. boosted its position in World Wrestling Entertainment by 5.1% in the second quarter. First Manhattan Co. now owns 16,717 shares of the company’s stock worth $307,000 after buying an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 47.54% of the company’s stock.
Shares of World Wrestling Entertainment Inc. (NYSE:WWE) opened at 19.96 on Friday. The stock has a 50 day moving average price of $20.47 and a 200-day moving average price of $18.85. World Wrestling Entertainment Inc. has a 52 week low of $14.20 and a 52 week high of $21.55. The stock has a market cap of $1.52 billion, a P/E ratio of 64.18 and a beta of 0.76.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.02. World Wrestling Entertainment had a net margin of 3.40% and a return on equity of 13.38%. The business earned $199 million during the quarter, compared to analyst estimates of $182.56 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. Equities analysts predict that World Wrestling Entertainment Inc. will post $0.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Thursday, September 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Tuesday, September 13th. World Wrestling Entertainment’s dividend payout ratio is presently 154.84%.
A number of equities analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a report on Tuesday, October 4th. Zacks Investment Research lowered World Wrestling Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Wells Fargo & Co. reissued a “buy” rating on shares of World Wrestling Entertainment in a research report on Tuesday, July 12th. Pacific Crest reissued an “overweight” rating and issued a $22.00 price target on shares of World Wrestling Entertainment in a research report on Monday, August 1st. Finally, Benchmark Co. reissued a “buy” rating and issued a $21.86 price target on shares of World Wrestling Entertainment in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. World Wrestling Entertainment currently has an average rating of “Buy” and an average target price of $21.54.
In other World Wrestling Entertainment news, CEO Vincent K. Mcmahon sold 1,547,372 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $19.32, for a total value of $29,895,227.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mark Kowal sold 6,500 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $20.92, for a total value of $135,980.00. Following the completion of the sale, the senior vice president now owns 21,072 shares in the company, valued at $440,826.24. The disclosure for this sale can be found here. 55.10% of the stock is owned by company insiders.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is a media and entertainment company. 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.