World Wrestling Entertainment, Inc. (NYSE:WWE)’s stock price rose 5.1% during mid-day trading on Tuesday . The company traded as high as $67.26 and last traded at $66.70, approximately 2,031,669 shares changed hands during trading. An increase of 83% from the average daily volume of 1,112,902 shares. The stock had previously closed at $63.47.

WWE has been the topic of a number of research analyst reports. Loop Capital raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $100.00 in a report on Thursday, May 2nd. KeyCorp reduced their price objective on World Wrestling Entertainment from $104.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Benchmark upgraded World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Friday, July 26th. ValuEngine cut World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research cut World Wrestling Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $102.73.

The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $71.66. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 59.55 and a beta of 1.37.

World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14. The business had revenue of $268.90 million during the quarter, compared to analysts’ expectations of $271.21 million. World Wrestling Entertainment had a return on equity of 23.92% and a net margin of 8.42%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 earnings per share. As a group, analysts predict that World Wrestling Entertainment, Inc. will post 0.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, September 13th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Thursday, September 12th. World Wrestling Entertainment’s payout ratio is 42.86%.

In related news, insider Kevin Dunn sold 14,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $73.40, for a total transaction of $1,027,600.00. Following the completion of the sale, the insider now owns 135,059 shares in the company, valued at $9,913,330.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider George A. Barrios sold 74,678 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $70.06, for a total value of $5,231,940.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,047 shares of company stock valued at $17,794,397. Company insiders own 43.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in World Wrestling Entertainment by 6.0% during the 4th quarter. Legal & General Group Plc now owns 44,709 shares of the company’s stock valued at $3,341,000 after purchasing an additional 2,534 shares during the period. Norges Bank acquired a new stake in World Wrestling Entertainment during the 4th quarter valued at approximately $31,712,000. Geode Capital Management LLC increased its position in World Wrestling Entertainment by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 504,124 shares of the company’s stock valued at $37,668,000 after purchasing an additional 71,849 shares during the period. First Citizens Bank & Trust Co. increased its position in World Wrestling Entertainment by 39.9% during the 1st quarter. First Citizens Bank & Trust Co. now owns 5,155 shares of the company’s stock valued at $447,000 after purchasing an additional 1,470 shares during the period. Finally, First Manhattan Co. increased its position in World Wrestling Entertainment by 1.4% during the 1st quarter. First Manhattan Co. now owns 23,101 shares of the company’s stock valued at $2,004,000 after purchasing an additional 326 shares during the period. Hedge funds and other institutional investors own 68.33% of the company’s stock.

About World Wrestling Entertainment (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 in 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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