California State Teachers Retirement System boosted its position in World Wrestling Entertainment Inc. (NYSE:WWE) by 18.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,800 shares of the company’s stock after buying an additional 12,070 shares during the period. California State Teachers Retirement System owned 0.10% of World Wrestling Entertainment worth $1,395,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of World Wrestling Entertainment by 3.9% in the first quarter. First Manhattan Co. now owns 15,904 shares of the company’s stock worth $280,000 after buying an additional 595 shares during the period. Texas Permanent School Fund purchased a new position in shares of World Wrestling Entertainment during the first quarter worth $484,000. Prudential Financial Inc. purchased a new position in shares of World Wrestling Entertainment during the first quarter worth $1,432,000. BlackRock Fund Advisors raised its position in shares of World Wrestling Entertainment by 169.6% in the first quarter. BlackRock Fund Advisors now owns 2,010,653 shares of the company’s stock worth $35,508,000 after buying an additional 1,264,908 shares during the period. Finally, State Street Corp raised its position in shares of World Wrestling Entertainment by 18.5% in the first quarter. State Street Corp now owns 591,332 shares of the company’s stock worth $10,447,000 after buying an additional 92,476 shares during the period. Institutional investors own 47.54% of the company’s stock.

Shares of World Wrestling Entertainment Inc. (NYSE:WWE) traded up 4.49% during trading on Wednesday, hitting $20.23. The stock had a trading volume of 378,783 shares. The firm’s 50 day moving average is $20.43 and its 200 day moving average is $18.53. World Wrestling Entertainment Inc. has a 1-year low of $14.20 and a 1-year high of $21.55. The company has a market cap of $1.55 billion, a PE ratio of 65.05 and a beta of 0.79.

World Wrestling Entertainment (NYSE:WWE) last announced its earnings results on Thursday, July 28th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. World Wrestling Entertainment had a return on equity of 13.38% and a net margin of 3.40%. The business earned $199 million during the quarter, compared to analysts’ expectations of $182.56 million. During the same quarter in the previous year, the firm earned $0.07 EPS. World Wrestling Entertainment’s quarterly revenue was up 32.5% on a year-over-year basis. Equities research analysts anticipate that World Wrestling Entertainment Inc. will post $0.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Thursday, September 15th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.37%. World Wrestling Entertainment’s payout ratio is presently 154.84%.

A number of equities analysts have recently weighed in on WWE shares. Zacks Investment Research lowered World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. KeyCorp lowered their target price on World Wrestling Entertainment from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, June 16th. Pacific Crest reiterated a “buy” rating and set a $22.00 target price (up previously from $21.00) on shares of World Wrestling Entertainment in a research note on Thursday, June 16th. Wells Fargo & Co. restated an “outperform” rating and set a $21.00 price objective on shares of World Wrestling Entertainment in a research note on Friday, June 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a research note on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $21.54.

In related news, CEO Vincent K. Mcmahon sold 1,547,372 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $19.32, for a total value of $29,895,227.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kevin Dunn sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $20.55, for a total value of $1,150,800.00. Following the completion of the transaction, the insider now owns 387,173 shares in the company, valued at approximately $7,956,405.15. The disclosure for this sale can be found here. 55.10% of the stock is owned by insiders.

About World Wrestling Entertainment

World Wrestling Entertainment, Inc (WWE) is a media and entertainment company. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.

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