FDx Advisors Inc. Reduces Holdings in World Wrestling Entertainment, Inc. (WWE)
FDx Advisors Inc. decreased its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 27.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,816 shares of the company’s stock after selling 1,479 shares during the quarter. FDx Advisors Inc.’s holdings in World Wrestling Entertainment were worth $369,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of WWE. Renaissance Technologies LLC grew its holdings in shares of World Wrestling Entertainment by 48.5% during the second quarter. Renaissance Technologies LLC now owns 3,318,100 shares of the company’s stock worth $241,624,000 after purchasing an additional 1,083,700 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of World Wrestling Entertainment by 115.7% during the third quarter. Wells Fargo & Company MN now owns 1,029,062 shares of the company’s stock worth $99,540,000 after purchasing an additional 551,947 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in shares of World Wrestling Entertainment during the second quarter worth about $21,846,000. Penserra Capital Management LLC purchased a new position in shares of World Wrestling Entertainment during the third quarter worth about $20,935,000. Finally, BlackRock Inc. grew its holdings in shares of World Wrestling Entertainment by 3.1% during the second quarter. BlackRock Inc. now owns 5,788,064 shares of the company’s stock worth $421,486,000 after purchasing an additional 172,587 shares during the last quarter. 59.92% of the stock is currently owned by institutional investors.
Shares of WWE opened at $76.57 on Friday. World Wrestling Entertainment, Inc. has a fifty-two week low of $28.80 and a fifty-two week high of $97.69. The stock has a market cap of $5.58 billion, a PE ratio of 117.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.26 and a quick ratio of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 14th will be given a $0.12 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.63%. World Wrestling Entertainment’s payout ratio is currently 73.85%.
Several equities analysts have issued reports on WWE shares. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Monday, October 29th. KeyCorp reaffirmed a “buy” rating on shares of World Wrestling Entertainment in a report on Friday, October 26th. Cannonball Research upgraded shares of World Wrestling Entertainment to a “buy” rating and set a $95.00 target price for the company in a research note on Thursday, October 11th. Guggenheim increased their target price on shares of World Wrestling Entertainment from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, November 28th. Finally, Citigroup decreased their target price on shares of World Wrestling Entertainment from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, October 29th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $87.42.
In related news, CAO Mark Kowal sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $88.04, for a total value of $220,100.00. Following the completion of the sale, the chief accounting officer now owns 9,872 shares in the company, valued at $869,130.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider George A. Barrios sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $96.22, for a total transaction of $4,811,000.00. Following the completion of the sale, the insider now owns 173,661 shares of the company’s stock, valued at approximately $16,709,661.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 396,000 shares of company stock valued at $30,335,605. 45.10% of the stock is owned by insiders.
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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.
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