Synovus Financial Corp purchased a new stake in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,281 shares of the company’s stock, valued at approximately $225,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WWE. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of World Wrestling Entertainment by 73.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,675 shares of the company’s stock valued at $609,000 after purchasing an additional 3,686 shares in the last quarter. Verition Fund Management LLC boosted its position in World Wrestling Entertainment by 146.8% during the 3rd quarter. Verition Fund Management LLC now owns 9,805 shares of the company’s stock worth $688,000 after acquiring an additional 5,832 shares during the period. Spire Wealth Management purchased a new position in World Wrestling Entertainment during the 4th quarter valued at about $53,000. Versor Investments LP increased its holdings in shares of World Wrestling Entertainment by 27.1% in the 3rd quarter. Versor Investments LP now owns 9,288 shares of the company’s stock valued at $652,000 after purchasing an additional 1,981 shares during the period. Finally, Pictet Asset Management SA purchased a new stake in shares of World Wrestling Entertainment in the third quarter worth approximately $218,000. Institutional investors and hedge funds own 69.60% of the company’s stock.
Analyst Ratings Changes
WWE has been the topic of a number of analyst reports. Guggenheim increased their price objective on World Wrestling Entertainment from $105.00 to $114.00 in a report on Wednesday, April 12th. StockNews.com started coverage on World Wrestling Entertainment in a research report on Saturday. They issued a “hold” rating for the company. Morgan Stanley upgraded World Wrestling Entertainment from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $105.00 to $120.00 in a research report on Thursday, April 13th. Wolfe Research lowered shares of World Wrestling Entertainment from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 30th. Finally, Loop Capital raised their price target on shares of World Wrestling Entertainment from $90.00 to $105.00 in a research note on Friday, January 6th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.44.
World Wrestling Entertainment Price Performance
World Wrestling Entertainment (NYSE:WWE – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). The company had revenue of $325.30 million for the quarter, compared to the consensus estimate of $333.25 million. World Wrestling Entertainment had a return on equity of 47.41% and a net margin of 15.15%. World Wrestling Entertainment’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. Equities research analysts forecast that World Wrestling Entertainment, Inc. will post 2.69 earnings per share for the current fiscal year.
World Wrestling Entertainment Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.48 annualized dividend and a yield of 0.45%. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 20.96%.
World Wrestling Entertainment Profile
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.
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