BlackRock Fund Advisors increased its stake in World Wrestling Entertainment Inc. (NYSE:WWE) by 169.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,010,653 shares of the company’s stock after buying an additional 1,264,908 shares during the period. BlackRock Fund Advisors owned approximately 2.65% of World Wrestling Entertainment worth $35,508,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. First Manhattan Co. increased its stake in World Wrestling Entertainment by 3.9% in the first quarter. First Manhattan Co. now owns 15,904 shares of the company’s stock valued at $280,000 after buying an additional 595 shares during the period. Texas Permanent School Fund bought a new stake in World Wrestling Entertainment during the first quarter valued at about $484,000. BlackRock Group LTD increased its stake in World Wrestling Entertainment by 226.2% in the first quarter. BlackRock Group LTD now owns 34,653 shares of the company’s stock valued at $613,000 after buying an additional 24,029 shares during the period. Capital Impact Advisors LLC bought a new stake in World Wrestling Entertainment during the first quarter valued at about $897,000. Finally, I.G. Investment Management LTD. increased its stake in World Wrestling Entertainment by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 63,215 shares of the company’s stock valued at $1,128,000 after buying an additional 165 shares during the period.
Shares of World Wrestling Entertainment Inc. (NYSE:WWE) traded down 0.30% during trading on Tuesday, hitting $19.81. The stock had a trading volume of 255,489 shares. The stock has a market capitalization of $1.50 billion and a P/E ratio of 53.40. The stock’s 50-day moving average is $18.88 and its 200-day moving average is $17.47. World Wrestling Entertainment Inc. has a 12-month low of $14.20 and a 12-month high of $23.63.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Thursday, September 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Tuesday, September 13th.
WWE has been the subject of several recent analyst reports. Pacific Crest restated a “buy” rating and set a $21.00 target price on shares of World Wrestling Entertainment in a research note on Sunday, May 15th. TheStreet upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. BTIG Research restated a “buy” rating and set a $25.00 target price on shares of World Wrestling Entertainment in a research note on Thursday, May 5th. Wells Fargo & Co. restated a “buy” rating on shares of World Wrestling Entertainment in a research note on Wednesday, April 6th. Finally, Benchmark Co. restated a “buy” rating on shares of World Wrestling Entertainment in a research note on Thursday, April 7th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $21.63.
In other World Wrestling Entertainment news, major shareholder K. Mcmahon 2013 Irrev. Vincent sold 2,191,894 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $16.50, for a total value of $36,166,251.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin Dunn sold 40,000 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $18.02, for a total transaction of $720,800.00. Following the completion of the transaction, the insider now owns 490,131 shares in the company, valued at approximately $8,832,160.62. The disclosure for this sale can be found here.
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.
