South Dakota Investment Council lessened its holdings in World Wrestling Entertainment, Inc. (NYSE:WWE – Free Report) by 14.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,663 shares of the company’s stock after selling 6,600 shares during the quarter. South Dakota Investment Council owned about 0.05% of World Wrestling Entertainment worth $3,528,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of WWE. Dark Forest Capital Management LP purchased a new stake in shares of World Wrestling Entertainment during the fourth quarter valued at approximately $36,000. Allworth Financial LP grew its holdings in shares of World Wrestling Entertainment by 30.8% during the first quarter. Allworth Financial LP now owns 526 shares of the company’s stock valued at $48,000 after buying an additional 124 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of World Wrestling Entertainment during the fourth quarter valued at approximately $53,000. US Bancorp DE grew its holdings in shares of World Wrestling Entertainment by 55.9% during the first quarter. US Bancorp DE now owns 957 shares of the company’s stock valued at $59,000 after buying an additional 343 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of World Wrestling Entertainment by 11.6% during the fourth quarter. Parallel Advisors LLC now owns 1,177 shares of the company’s stock valued at $81,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. VNET Group reiterated a “maintains” rating on shares of World Wrestling Entertainment in a report on Thursday, May 4th. StockNews.com assumed coverage on shares of World Wrestling Entertainment in a report on Friday, August 11th. They issued a “hold” rating on the stock. Morgan Stanley restated an “overweight” rating and issued a $125.00 target price on shares of World Wrestling Entertainment in a report on Thursday, August 3rd. Wells Fargo & Company raised their target price on shares of World Wrestling Entertainment from $100.00 to $109.00 in a report on Wednesday, May 3rd. Finally, Citigroup raised their target price on shares of World Wrestling Entertainment from $115.00 to $125.00 in a report on Thursday, May 11th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $110.13.
World Wrestling Entertainment Stock Performance
WWE traded up $1.61 during trading on Friday, hitting $111.10. The company’s stock had a trading volume of 42,478 shares, compared to its average volume of 989,974. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 0.42. World Wrestling Entertainment, Inc. has a one year low of $65.04 and a one year high of $114.83. The firm has a market cap of $9.24 billion, a PE ratio of 53.68 and a beta of 1.14. The business’s 50 day simple moving average is $106.26 and its 200-day simple moving average is $98.86.
World Wrestling Entertainment Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 15th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.48 annualized dividend and a yield of 0.43%. World Wrestling Entertainment’s payout ratio is presently 23.53%.
World Wrestling Entertainment Profile
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 through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment.
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