World Wrestling Entertainment, Inc. (NYSE:WWE) gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $34.36, but opened at $31.87. World Wrestling Entertainment shares last traded at $29.55, with a volume of 2476609 shares changing hands.

Specifically, SVP Blake Timothy Bilstad sold 1,801 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total transaction of $47,546.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the transaction, the chief executive officer now owns 3,340,000 shares in the company, valued at approximately $95,791,200. The disclosure for this sale can be found here. Corporate insiders own 49.80% of the company’s stock.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of World Wrestling Entertainment in a research note on Wednesday, December 6th. They issued an “overweight” rating on the stock. Citigroup lowered shares of World Wrestling Entertainment from a “buy” rating to a “neutral” rating in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a research note on Tuesday, September 26th. Zacks Investment Research lowered shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, KeyCorp reiterated a “hold” rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $25.25.

The firm has a market capitalization of $2,457.40, a P/E ratio of 65.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.68 and a quick ratio of 2.62.

World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $186.40 million for the quarter, compared to analyst estimates of $176.19 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. analysts expect that World Wrestling Entertainment, Inc. will post 0.58 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Friday, December 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, December 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 106.67%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. boosted its holdings in World Wrestling Entertainment by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock worth $104,000 after buying an additional 51 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in World Wrestling Entertainment during the third quarter worth $176,000. Piedmont Investment Advisors LLC purchased a new stake in World Wrestling Entertainment during the third quarter worth $201,000. FDx Advisors Inc. purchased a new stake in World Wrestling Entertainment during the third quarter worth $219,000. Finally, Summit Securities Group LLC purchased a new stake in World Wrestling Entertainment during the third quarter worth $236,000. 49.75% of the stock is currently owned by hedge funds and other institutional investors.

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World Wrestling Entertainment Company Profile

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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