Handelsbanken Fonder AB boosted its stake in World Wrestling Entertainment, Inc. (NYSE:WWE – Free Report) by 93.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,337 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Handelsbanken Fonder AB’s holdings in World Wrestling Entertainment were worth $943,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new stake in shares of World Wrestling Entertainment during the fourth quarter worth $53,000. Avala Global LP acquired a new stake in shares of World Wrestling Entertainment during the fourth quarter worth $11,890,000. Pinebridge Investments L.P. raised its holdings in shares of World Wrestling Entertainment by 2.2% during the fourth quarter. Pinebridge Investments L.P. now owns 8,591 shares of the company’s stock worth $589,000 after purchasing an additional 189 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of World Wrestling Entertainment by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 565,659 shares of the company’s stock worth $38,759,000 after purchasing an additional 12,440 shares during the period. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of World Wrestling Entertainment during the fourth quarter worth $260,000. 69.13% of the stock is owned by institutional investors and hedge funds.
World Wrestling Entertainment Stock Performance
NYSE:WWE opened at $105.87 on Friday. World Wrestling Entertainment, Inc. has a twelve month low of $65.04 and a twelve month high of $112.21. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $104.06 and a 200-day moving average of $96.12. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of 54.29 and a beta of 1.16.
World Wrestling Entertainment Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 26th. Shareholders of record on Thursday, June 15th were paid 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 was Wednesday, June 14th. World Wrestling Entertainment’s dividend payout ratio is presently 24.62%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on WWE. Guggenheim increased their price objective on shares of World Wrestling Entertainment from $105.00 to $114.00 in a report on Wednesday, April 12th. Benchmark cut shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. StockNews.com began coverage on shares of World Wrestling Entertainment in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. Wells Fargo & Company increased their price objective on shares of World Wrestling Entertainment from $100.00 to $109.00 in a report on Wednesday, May 3rd. Finally, Morgan Stanley increased their price objective on shares of World Wrestling Entertainment from $120.00 to $125.00 in a report on Thursday, May 4th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $105.56.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment.
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