Sigma Planning Corp Invests $296,000 in World Wrestling Entertainment, Inc. (NYSE:WWE)

Sigma Planning Corp bought a new position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) in the second quarter, HoldingsChannel reports. The institutional investor bought 4,103 shares of the company’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of World Wrestling Entertainment by 2.7% during the 1st quarter. Wells Fargo & Company MN now owns 1,108,669 shares of the company’s stock worth $96,212,000 after buying an additional 29,097 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of World Wrestling Entertainment by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,106,935 shares of the company’s stock worth $96,060,000 after buying an additional 9,362 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of World Wrestling Entertainment by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 504,124 shares of the company’s stock worth $37,668,000 after buying an additional 71,849 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of World Wrestling Entertainment by 53.8% during the 1st quarter. Principal Financial Group Inc. now owns 340,702 shares of the company’s stock worth $29,566,000 after buying an additional 119,174 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of World Wrestling Entertainment by 57.1% during the 1st quarter. Neuberger Berman Group LLC now owns 266,294 shares of the company’s stock worth $23,109,000 after buying an additional 96,801 shares during the last quarter. Institutional investors own 66.44% of the company’s stock.

NYSE:WWE opened at $74.07 on Thursday. World Wrestling Entertainment, Inc. has a 52 week low of $58.50 and a 52 week high of $100.45. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 66.13 and a beta of 1.37. The firm’s 50-day simple moving average is $71.34 and its 200 day simple moving average is $80.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.21 and a current ratio of 1.24.

World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, July 25th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.14. World Wrestling Entertainment had a net margin of 8.42% and a return on equity of 23.92%. The firm had revenue of $268.90 million for the quarter, compared to analyst estimates of $271.21 million. During the same period last year, the firm earned $0.11 EPS. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. Sell-side analysts anticipate that World Wrestling Entertainment, Inc. will post 0.99 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, September 13th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, September 12th. World Wrestling Entertainment’s dividend payout ratio is currently 42.86%.

In other World Wrestling Entertainment news, insider Kevin Dunn sold 14,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $73.40, for a total value of $1,027,600.00. Following the transaction, the insider now directly owns 135,059 shares of the company’s stock, valued at approximately $9,913,330.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patricia A. Gottesman sold 4,123 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.02, for a total transaction of $276,323.46. Following the completion of the transaction, the director now directly owns 16,521 shares in the company, valued at $1,107,237.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,047 shares of company stock worth $17,794,397. Insiders own 43.90% of the company’s stock.

WWE has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of World Wrestling Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 30th. Loop Capital raised shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $100.00 in a research report on Thursday, May 2nd. KeyCorp lowered their price target on shares of World Wrestling Entertainment from $104.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Guggenheim reaffirmed a “buy” rating and set a $100.00 price target (down from $105.00) on shares of World Wrestling Entertainment in a research report on Tuesday, June 25th. Finally, ValuEngine lowered shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. World Wrestling Entertainment has an average rating of “Buy” and a consensus target price of $101.25.

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

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