FBN Securities cut shares of World Wrestling Entertainment, Inc. (NYSE:WWE) from an outperform rating to a sector perform rating in a report published on Monday morning.

Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of World Wrestling Entertainment from a hold rating to a sell rating in a report on Tuesday, July 11th. BidaskClub downgraded shares of World Wrestling Entertainment from a buy rating to a hold rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a hold rating to a buy rating and set a $24.00 price objective on the stock in a report on Monday, July 31st. Benchmark Co. restated a buy rating and set a $25.00 price objective (down previously from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. Finally, 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, September 26th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $25.25.

Shares of World Wrestling Entertainment (NYSE WWE) traded up 3.99% during trading on Monday, hitting $26.32. 535,618 shares of the stock traded hands. The company has a market cap of $2.03 billion, a PE ratio of 80.24 and a beta of 0.84. The firm has a 50 day moving average price of $22.92 and a 200-day moving average price of $21.36. World Wrestling Entertainment has a one year low of $16.77 and a one year high of $26.73.

World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The company had revenue of $186.40 million for the quarter, compared to the consensus estimate of $176.19 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue was up 13.5% compared to the same quarter last year. Analysts anticipate that World Wrestling Entertainment will post $0.47 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Friday, December 15th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.90%. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 106.67%.

In other news, SVP Mark Kowal sold 4,750 shares of World Wrestling Entertainment stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $21.44, for a total transaction of $101,840.00. Following the sale, the senior vice president now directly owns 17,011 shares in the company, valued at approximately $364,715.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Basil V. Jr. Devito sold 25,537 shares of World Wrestling Entertainment stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $21.59, for a total transaction of $551,343.83. Following the sale, the insider now owns 65,616 shares in the company, valued at $1,416,649.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,848 shares of company stock worth $2,207,483. 49.80% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Lindsell Train Ltd boosted its position in shares of World Wrestling Entertainment by 4.2% during the 2nd quarter. Lindsell Train Ltd now owns 7,082,868 shares of the company’s stock valued at $144,278,000 after acquiring an additional 286,635 shares in the last quarter. BlackRock Inc. boosted its position in shares of World Wrestling Entertainment by 1.4% during the 2nd quarter. BlackRock Inc. now owns 4,487,555 shares of the company’s stock valued at $91,410,000 after acquiring an additional 61,167 shares in the last quarter. EastBay Asset Management LLC boosted its position in shares of World Wrestling Entertainment by 153.2% during the 2nd quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock valued at $27,237,000 after acquiring an additional 809,130 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its position in shares of World Wrestling Entertainment by 100.8% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 916,673 shares of the company’s stock valued at $19,516,000 after acquiring an additional 460,117 shares in the last quarter. Finally, State Street Corp boosted its position in shares of World Wrestling Entertainment by 5.5% during the 2nd quarter. State Street Corp now owns 872,209 shares of the company’s stock valued at $17,763,000 after acquiring an additional 45,601 shares in the last quarter. Institutional investors and hedge funds own 49.47% of the company’s stock.

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.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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