State of New Jersey Common Pension Fund D Has $3,667,000 Position in World Wrestling Entertainment, Inc. (WWE)
State of New Jersey Common Pension Fund D held its stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) during the second quarter, Holdings Channel reports. The fund owned 180,000 shares of the company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in World Wrestling Entertainment were worth $3,667,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of World Wrestling Entertainment by 116,814.6% in the first quarter. BlackRock Inc. now owns 4,426,388 shares of the company’s stock valued at $98,355,000 after buying an additional 4,422,602 shares in the last quarter. Morgan Stanley raised its stake in shares of World Wrestling Entertainment by 22.5% in the first quarter. Morgan Stanley now owns 1,807,629 shares of the company’s stock valued at $40,165,000 after buying an additional 331,584 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of World Wrestling Entertainment by 14,498.8% in the first quarter. JPMorgan Chase & Co. now owns 224,675 shares of the company’s stock valued at $4,993,000 after buying an additional 223,136 shares in the last quarter. Oxford Asset Management bought a new stake in shares of World Wrestling Entertainment during the first quarter valued at $4,833,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of World Wrestling Entertainment by 149.8% in the first quarter. Goldman Sachs Group Inc. now owns 340,153 shares of the company’s stock valued at $7,559,000 after buying an additional 203,985 shares in the last quarter. 50.11% of the stock is currently owned by hedge funds and other institutional investors.
World Wrestling Entertainment, Inc. (WWE) opened at 21.13 on Wednesday. World Wrestling Entertainment, Inc. has a one year low of $16.77 and a one year high of $23.14. The stock’s 50 day moving average price is $20.97 and its 200-day moving average price is $20.89. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 64.42 and a beta of 0.82.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $214.60 million for the quarter, compared to analyst estimates of $209.28 million. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 earnings per share. On average, equities research analysts anticipate that World Wrestling Entertainment, Inc. will post $0.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, September 14th. World Wrestling Entertainment’s dividend payout ratio is currently 154.84%.
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WWE has been the topic of several analyst reports. TheStreet raised World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. ValuEngine lowered World Wrestling Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Morgan Stanley initiated coverage on World Wrestling Entertainment in a research report on Friday, June 30th. They issued an “equal weight” rating and a $23.00 target price on the stock. Zacks Investment Research raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Benchmark Co. reaffirmed a “buy” rating and issued a $25.00 target price (down from $26.00) on shares of World Wrestling Entertainment in a research report on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $24.38.
In other World Wrestling Entertainment news, SVP Mark Kowal sold 4,750 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $21.44, for a total value of $101,840.00. Following the transaction, the senior vice president now owns 17,011 shares of the company’s stock, valued at $364,715.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Michelle D. Wilson sold 55,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $21.25, for a total value of $1,168,750.00. Following the completion of the transaction, the executive now directly owns 436,174 shares in the company, valued at approximately $9,268,697.50. The disclosure for this sale can be found here. In the last three months, insiders sold 73,133 shares of company stock worth $1,554,711. Insiders own 49.80% of the company’s stock.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. 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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