Duality Advisers LP bought a new stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 38,473 shares of the company’s stock, valued at approximately $1,672,000.
Several other large investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. raised its position in World Wrestling Entertainment by 50.2% in the first quarter. Envestnet Asset Management Inc. now owns 13,069 shares of the company’s stock valued at $443,000 after purchasing an additional 4,367 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of World Wrestling Entertainment by 24.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,465 shares of the company’s stock valued at $50,000 after buying an additional 288 shares during the period. Advisor Group Holdings Inc. acquired a new position in World Wrestling Entertainment during the 1st quarter worth approximately $159,000. Parametric Portfolio Associates LLC boosted its holdings in World Wrestling Entertainment by 81.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 210,133 shares of the company’s stock worth $7,130,000 after acquiring an additional 94,301 shares during the period. Finally, APG Asset Management N.V. purchased a new position in World Wrestling Entertainment in the 1st quarter worth approximately $20,388,000. Institutional investors and hedge funds own 72.70% of the company’s stock.
A number of research analysts have recently commented on the stock. Guggenheim boosted their target price on shares of World Wrestling Entertainment from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark upped their price objective on shares of World Wrestling Entertainment from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, April 24th. MKM Partners raised their target price on World Wrestling Entertainment from $48.00 to $52.00 in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on World Wrestling Entertainment from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of World Wrestling Entertainment in a report on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. World Wrestling Entertainment has a consensus rating of “Buy” and a consensus price target of $57.13.
World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, July 30th. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.37. World Wrestling Entertainment had a net margin of 14.18% and a return on equity of 50.91%. The company had revenue of $223.40 million for the quarter, compared to analysts’ expectations of $228.89 million. Equities research analysts anticipate that World Wrestling Entertainment, Inc. will post 1.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. World Wrestling Entertainment’s dividend payout ratio is currently 56.47%.
In other news, EVP Paul Levesque sold 23,255 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $43.80, for a total transaction of $1,018,569.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 40.20% of the company’s stock.
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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