World Wrestling Entertainment, Inc. (WWE) Stake Lowered by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,534,410 shares of the company’s stock after selling 86,755 shares during the period. Pinnacle Associates Ltd.’s holdings in World Wrestling Entertainment were worth $28,233,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Majedie Asset Management Ltd boosted its position in World Wrestling Entertainment by 51.3% in the second quarter. Majedie Asset Management Ltd now owns 1,500,925 shares of the company’s stock valued at $27,632,000 after buying an additional 508,611 shares in the last quarter. Lindsell Train Ltd boosted its position in World Wrestling Entertainment by 7.2% in the second quarter. Lindsell Train Ltd now owns 6,117,681 shares of the company’s stock valued at $112,627,000 after buying an additional 410,000 shares in the last quarter. BlackRock Fund Advisors boosted its position in World Wrestling Entertainment by 13.3% in the third quarter. BlackRock Fund Advisors now owns 2,495,495 shares of the company’s stock valued at $53,154,000 after buying an additional 293,354 shares in the last quarter. Artemis Investment Management LLP boosted its position in World Wrestling Entertainment by 64.4% in the fourth quarter. Artemis Investment Management LLP now owns 581,345 shares of the company’s stock valued at $10,699,000 after buying an additional 227,801 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in World Wrestling Entertainment by 305.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,266 shares of the company’s stock valued at $3,666,000 after buying an additional 150,137 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Institutional Ownership by Quarter for World Wrestling Entertainment (NYSE:WWE)

World Wrestling Entertainment, Inc. (NYSE:WWE) traded down 0.71% during midday trading on Tuesday, reaching $22.50. 1,272,834 shares of the company traded hands. The firm has a 50-day moving average of $19.42 and a 200-day moving average of $19.56. World Wrestling Entertainment, Inc. has a 1-year low of $14.27 and a 1-year high of $23.14. The stock has a market capitalization of $1.72 billion, a P/E ratio of 51.14 and a beta of 0.71.

World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, February 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The company earned $194.90 million during the quarter, compared to analysts’ expectations of $180.29 million. World Wrestling Entertainment had a net margin of 4.64% and a return on equity of 15.21%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. On average, analysts predict that World Wrestling Entertainment, Inc. will post $0.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Shareholders of record on Wednesday, March 15th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, March 13th. World Wrestling Entertainment’s payout ratio is currently 111.63%.

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Several brokerages have recently weighed in on WWE. Zacks Investment Research cut shares of World Wrestling Entertainment from a “hold” rating to a “sell” rating in a research note on Monday, October 31st. Deutsche Bank AG reiterated a “sell” rating on shares of World Wrestling Entertainment in a research note on Friday, October 28th. Wells Fargo & Company cut shares of World Wrestling Entertainment from an “outperform” rating to a “market perform” rating in a research note on Friday, October 28th. Needham & Company LLC reiterated a “buy” rating on shares of World Wrestling Entertainment in a research note on Tuesday, December 6th. Finally, MKM Partners began coverage on shares of World Wrestling Entertainment in a research note on Tuesday, January 10th. They issued a “buy” rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $22.79.

World Wrestling Entertainment Company Profile

World Wrestling Entertainment, Inc (WWE) is a media and entertainment company. 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.

5 Day Chart for NYSE:WWE

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