Retirement Systems of Alabama Grows Position in World Wrestling Entertainment, Inc. (NYSE:WWE)

Posted by on May 6th, 2023

Retirement Systems of Alabama grew its stake in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,070 shares of the company’s stock after purchasing an additional 454 shares during the period. Retirement Systems of Alabama owned about 0.08% of World Wrestling Entertainment worth $3,910,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Parallel Advisors LLC boosted its position in World Wrestling Entertainment by 11.6% in the 4th quarter. Parallel Advisors LLC now owns 1,177 shares of the company’s stock worth $81,000 after purchasing an additional 122 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of World Wrestling Entertainment by 1.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,740 shares of the company’s stock valued at $873,000 after buying an additional 138 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in shares of World Wrestling Entertainment by 16.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,019 shares of the company’s stock valued at $70,000 after buying an additional 143 shares in the last quarter. Xponance Inc. lifted its holdings in World Wrestling Entertainment by 1.5% in the 3rd quarter. Xponance Inc. now owns 9,462 shares of the company’s stock valued at $664,000 after purchasing an additional 144 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in World Wrestling Entertainment by 24.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 984 shares of the company’s stock valued at $69,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

World Wrestling Entertainment Stock Performance

Shares of World Wrestling Entertainment stock opened at $106.86 on Friday. The business has a 50-day moving average of $93.93 and a 200 day moving average of $84.83. World Wrestling Entertainment, Inc. has a 12 month low of $55.09 and a 12 month high of $110.24. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 54.80 and a beta of 1.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.61 and a quick ratio of 1.44.

World Wrestling Entertainment (NYSE:WWE – Get Rating) last announced its earnings results on Thursday, February 2nd. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). World Wrestling Entertainment had a net margin of 13.24% and a return on equity of 38.41%. The firm had revenue of $325.30 million for the quarter, compared to analysts’ expectations of $333.25 million. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that World Wrestling Entertainment, Inc. will post 2.77 earnings per share for the current year.

World Wrestling Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Thursday, June 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Wednesday, June 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is 24.62%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WWE shares. Guggenheim raised their target price on World Wrestling Entertainment from $105.00 to $114.00 in a research note on Wednesday, April 12th. Wells Fargo & Company raised their target price on World Wrestling Entertainment from $100.00 to $109.00 in a research note on Wednesday. StockNews.com started coverage on World Wrestling Entertainment in a research report on Saturday, April 29th. They set a “hold” rating for the company. 1-800-FLOWERS.COM reissued a “maintains” rating on shares of World Wrestling Entertainment in a research report on Thursday. Finally, Loop Capital raised their price objective on World Wrestling Entertainment from $105.00 to $125.00 in a research report on Thursday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, World Wrestling Entertainment currently has an average rating of “Hold” and an average target price of $101.22.

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.

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

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