UBS Group AG lowered its stake in World Wrestling Entertainment, Inc. (NYSE:WWE) by 11.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,411,491 shares of the company’s stock after selling 185,752 shares during the period. UBS Group AG owned 1.85% of World Wrestling Entertainment worth $31,364,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its stake in World Wrestling Entertainment by 4.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock valued at $195,000 after buying an additional 380 shares during the period. Mason Street Advisors LLC raised its stake in World Wrestling Entertainment by 7.1% in the first quarter. Mason Street Advisors LLC now owns 9,003 shares of the company’s stock valued at $200,000 after buying an additional 600 shares during the period. ETRADE Capital Management LLC bought a new stake in World Wrestling Entertainment during the third quarter valued at approximately $202,000. Karp Capital Management Corp bought a new stake in World Wrestling Entertainment during the first quarter valued at approximately $228,000. Finally, UBS Asset Management Americas Inc. bought a new stake in World Wrestling Entertainment during the first quarter valued at approximately $229,000. 52.01% of the stock is currently owned by hedge funds and other institutional investors.
World Wrestling Entertainment, Inc. (NYSE WWE) traded down 1.00% during trading on Monday, hitting $20.70. The stock had a trading volume of 290,822 shares. World Wrestling Entertainment, Inc. has a 12-month low of $16.77 and a 12-month high of $23.14. The stock’s 50 day moving average price is $20.31 and its 200 day moving average price is $20.33. The firm has a market cap of $1.58 billion, a P/E ratio of 76.67 and a beta of 0.79.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $188.40 million during the quarter, compared to analyst estimates of $183.41 million. World Wrestling Entertainment had a return on equity of 11.35% and a net margin of 2.79%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. On average, analysts anticipate that World Wrestling Entertainment, Inc. will post $0.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Thursday, June 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, June 13th. World Wrestling Entertainment’s dividend payout ratio is currently 184.62%.
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Several research firms recently commented on WWE. TheStreet raised World Wrestling Entertainment from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a report on Tuesday, April 4th. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a report on Sunday, April 2nd. Citigroup Inc. began coverage on World Wrestling Entertainment in a report on Monday, March 27th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. World Wrestling Entertainment currently has an average rating of “Hold” and a consensus price target of $24.11.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. 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.
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