Texas Permanent School Fund Sells 1,996 Shares of World Wrestling Entertainment, Inc. (NYSE:WWE)

Posted by Defense World Staff on May 12th, 2023

Texas Permanent School Fund reduced its stake in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,110 shares of the company’s stock after selling 1,996 shares during the period. Texas Permanent School Fund’s holdings in World Wrestling Entertainment were worth $1,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Duality Advisers LP bought a new position in World Wrestling Entertainment in the 4th quarter worth about $311,000. Envestnet Asset Management Inc. grew its stake in World Wrestling Entertainment by 5.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 49,974 shares of the company’s stock worth $3,424,000 after acquiring an additional 2,411 shares in the last quarter. Ninety One UK Ltd grew its stake in World Wrestling Entertainment by 1.0% in the 4th quarter. Ninety One UK Ltd now owns 2,578,778 shares of the company’s stock worth $176,698,000 after acquiring an additional 25,941 shares in the last quarter. Retirement Systems of Alabama grew its stake in World Wrestling Entertainment by 0.8% in the 4th quarter. Retirement Systems of Alabama now owns 57,070 shares of the company’s stock worth $3,910,000 after acquiring an additional 454 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in World Wrestling Entertainment by 474.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,022 shares of the company’s stock worth $755,000 after acquiring an additional 9,102 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors.

World Wrestling Entertainment Trading Down 0.3 %

Shares of WWE stock opened at $104.71 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market capitalization of $7.80 billion, a P/E ratio of 53.70 and a beta of 1.19. The company has a 50 day moving average price of $96.05 and a 200 day moving average price of $85.84. World Wrestling Entertainment, Inc. has a fifty-two week low of $56.29 and a fifty-two week high of $110.24.

World Wrestling Entertainment Dividend Announcement

The company also recently declared 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. This represents a $0.48 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, June 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 24.62%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WWE. Benchmark cut shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. 1-800-FLOWERS.COM reaffirmed a “maintains” rating on shares of World Wrestling Entertainment in a research report on Thursday, May 4th. StockNews.com began coverage on shares of World Wrestling Entertainment in a research report on Sunday, May 7th. They issued a “hold” rating for the company. VNET Group reaffirmed a “maintains” rating on shares of World Wrestling Entertainment in a research report on Thursday, May 4th. Finally, Roth Capital reiterated a “buy” rating on shares of World Wrestling Entertainment in a research report on Friday, February 3rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $105.56.

About World Wrestling Entertainment

(Get Rating)

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.