World Wrestling Entertainment (NYSE:WWE) Hits New 1-Year High at $70.63

World Wrestling Entertainment, Inc. (NYSE:WWE)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $70.63 and last traded at $67.81, with a volume of 72513 shares. The stock had previously closed at $58.15.

A number of research analysts have weighed in on WWE shares. Morgan Stanley lifted their price objective on shares of World Wrestling Entertainment from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of World Wrestling Entertainment in a report on Friday, April 23rd. Zacks Investment Research raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating and set a $62.00 price objective for the company in a report on Monday, April 12th. Finally, Cfra cut shares of World Wrestling Entertainment to a “sell” rating and set a $45.00 price objective for the company. in a report on Friday, April 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.92.

The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 36.86 and a beta of 1.50. The firm has a 50 day moving average price of $56.05. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.49 and a current ratio of 1.51.

World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.28. The business had revenue of $263.50 million during the quarter, compared to analysts’ expectations of $259.60 million. World Wrestling Entertainment had a net margin of 15.78% and a return on equity of 40.49%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. On average, analysts predict that World Wrestling Entertainment, Inc. will post 1.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Tuesday, June 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, June 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.74%. World Wrestling Entertainment’s payout ratio is presently 28.57%.

In related news, EVP Paul Levesque sold 37,115 shares of the business’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $55.60, for a total transaction of $2,063,594.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 41.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lindsell Train Ltd boosted its position in World Wrestling Entertainment by 6.3% during the first quarter. Lindsell Train Ltd now owns 11,075,514 shares of the company’s stock worth $600,957,000 after acquiring an additional 659,276 shares during the last quarter. BlackRock Inc. boosted its holdings in World Wrestling Entertainment by 20.0% in the 1st quarter. BlackRock Inc. now owns 5,040,458 shares of the company’s stock valued at $273,497,000 after purchasing an additional 840,158 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in World Wrestling Entertainment by 11.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,795,643 shares of the company’s stock valued at $97,432,000 after purchasing an additional 182,271 shares during the last quarter. Morgan Stanley boosted its holdings in World Wrestling Entertainment by 108.1% in the 1st quarter. Morgan Stanley now owns 1,260,499 shares of the company’s stock valued at $68,395,000 after purchasing an additional 654,769 shares during the last quarter. Finally, Korea Investment CORP boosted its holdings in World Wrestling Entertainment by 8.2% in the 4th quarter. Korea Investment CORP now owns 1,074,631 shares of the company’s stock valued at $51,636,000 after purchasing an additional 81,700 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

World Wrestling Entertainment Company Profile (NYSE:WWE)

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 through 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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