Balyasny Asset Management LLC Purchases 146,996 Shares of World Wrestling Entertainment, Inc. (NYSE:WWE)

Posted by Defense World Staff on Mar 15th, 2023

Balyasny Asset Management LLC boosted its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 46.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 463,280 shares of the company’s stock after acquiring an additional 146,996 shares during the period. Balyasny Asset Management LLC owned approximately 0.62% of World Wrestling Entertainment worth $32,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. increased its stake in World Wrestling Entertainment by 1.5% during the third quarter. Xponance Inc. now owns 9,462 shares of the company’s stock valued at $664,000 after acquiring an additional 144 shares during the period. Captrust Financial Advisors increased its stake in World Wrestling Entertainment by 12.1% during the second quarter. Captrust Financial Advisors now owns 1,536 shares of the company’s stock valued at $96,000 after acquiring an additional 166 shares during the period. Allworth Financial LP increased its stake in World Wrestling Entertainment by 84.4% during the third quarter. Allworth Financial LP now owns 402 shares of the company’s stock valued at $28,000 after acquiring an additional 184 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in World Wrestling Entertainment by 24.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 984 shares of the company’s stock valued at $69,000 after acquiring an additional 191 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in World Wrestling Entertainment by 1.0% during the third quarter. Treasurer of the State of North Carolina now owns 27,372 shares of the company’s stock valued at $1,921,000 after acquiring an additional 272 shares during the period. 69.60% of the stock is currently owned by institutional investors.

World Wrestling Entertainment Stock Up 2.1 %

Shares of WWE opened at $81.76 on Wednesday. The business’s 50 day simple moving average is $85.75 and its 200-day simple moving average is $77.74. World Wrestling Entertainment, Inc. has a one year low of $54.66 and a one year high of $93.63. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.45 and a quick ratio of 1.44. The company has a market capitalization of $6.09 billion, a P/E ratio of 35.70 and a beta of 1.18.

World Wrestling Entertainment (NYSE:WWE – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.08). World Wrestling Entertainment had a return on equity of 47.41% and a net margin of 15.15%. The firm had revenue of $325.30 million for the quarter, compared to analyst estimates of $333.25 million. During the same period in the prior year, the company posted $0.70 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that World Wrestling Entertainment, Inc. will post 2.79 EPS for the current fiscal year.

World Wrestling Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, March 14th. World Wrestling Entertainment’s dividend payout ratio is 20.96%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com lowered World Wrestling Entertainment from a “hold” rating to a “sell” rating in a research note on Monday, February 6th. Morgan Stanley upped their price objective on World Wrestling Entertainment from $80.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 17th. Guggenheim upped their price objective on World Wrestling Entertainment from $94.00 to $105.00 in a research note on Friday, February 3rd. Benchmark upped their price objective on World Wrestling Entertainment from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Finally, Wells Fargo & Company upgraded World Wrestling Entertainment from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $52.00 to $100.00 in a research note on Tuesday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, World Wrestling Entertainment currently has a consensus rating of “Hold” and a consensus price target of $91.70.

World Wrestling Entertainment Profile

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World Wrestling Entertainment, Inc is an integrated media and entertainment company, which engages in the production and distribution of content through various channels. It operates through the following business segments: Media, Live Events, and Consumer Products. The Media segment reflects the production and monetization of long-form and short-form video content across various platforms including WWE Network, broadcast and pay television, digital and social media, as well as filmed entertainment.