American International Group Inc. Sells 815 Shares of World Wrestling Entertainment, Inc. (NYSE:WWE)

Posted by Defense World Staff on Jun 4th, 2023

American International Group Inc. cut its holdings in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,650 shares of the company’s stock after selling 815 shares during the quarter. American International Group Inc. owned 0.09% of World Wrestling Entertainment worth $4,635,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Spire Wealth Management bought a new position in World Wrestling Entertainment during the 4th quarter valued at about $53,000. US Bancorp DE lifted its position in World Wrestling Entertainment by 55.9% during the first quarter. US Bancorp DE now owns 957 shares of the company’s stock valued at $59,000 after purchasing an additional 343 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in World Wrestling Entertainment by 24.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 984 shares of the company’s stock worth $69,000 after purchasing an additional 191 shares during the last quarter. Eagle Bay Advisors LLC grew its position in World Wrestling Entertainment by 16.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,019 shares of the company’s stock worth $70,000 after purchasing an additional 143 shares during the period. Finally, Parallel Advisors LLC grew 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 during the period. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

World Wrestling Entertainment Stock Performance

WWE opened at $101.65 on Friday. The company has a 50 day simple moving average of $102.25 and a two-hundred day simple moving average of $88.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.61 and a quick ratio of 1.60. The firm has a market cap of $7.57 billion, a P/E ratio of 52.13 and a beta of 1.16. World Wrestling Entertainment, Inc. has a 1-year low of $58.72 and a 1-year high of $110.24.

World Wrestling Entertainment Announces Dividend

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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.47%. The ex-dividend date is Wednesday, June 14th. World Wrestling Entertainment’s dividend payout ratio is currently 24.62%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WWE shares. Loop Capital raised their price target on World Wrestling Entertainment from $105.00 to $125.00 in a research note on Thursday, May 4th. Citigroup raised their target price on World Wrestling Entertainment from $115.00 to $125.00 in a research report on Thursday, May 11th. Guggenheim upped their price target on shares of World Wrestling Entertainment from $105.00 to $114.00 in a research report on Wednesday, April 12th. Wells Fargo & Company raised their price objective on shares of World Wrestling Entertainment from $100.00 to $109.00 in a report on Wednesday, May 3rd. Finally, Benchmark cut shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $105.56.

World Wrestling Entertainment Company 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.