World Wrestling Entertainment (WWE) Downgraded by Citigroup to Neutral
World Wrestling Entertainment (NYSE:WWE) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Friday, December 22nd, MarketBeat reports.
Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of World Wrestling Entertainment in a research note on Wednesday, December 6th. They issued an “overweight” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a research note on Tuesday, September 26th. Zacks Investment Research downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. KeyCorp reiterated a “hold” rating on shares of World Wrestling Entertainment in a research note on Tuesday, October 17th. Finally, FBN Securities downgraded shares of World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research note on Monday, October 30th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $25.25.
Shares of World Wrestling Entertainment (NYSE WWE) traded up $0.24 on Friday, reaching $30.58. 502,908 shares of the company’s stock traded hands, compared to its average volume of 574,188. The firm has a market capitalization of $2,360.00, a P/E ratio of 66.48, a price-to-earnings-growth ratio of 2.63 and a beta of 0.87. World Wrestling Entertainment has a 52 week low of $18.00 and a 52 week high of $33.28. The company has a current ratio of 2.68, a quick ratio of 2.62 and a debt-to-equity ratio of 0.83.
World Wrestling Entertainment (NYSE:WWE) last announced its earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.08. The company had revenue of $186.40 million during the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. World Wrestling Entertainment’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. research analysts anticipate that World Wrestling Entertainment will post 0.58 earnings per share for the current fiscal year.
In related news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,340,000 shares in the company, valued at $95,791,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Blake Timothy Bilstad sold 1,801 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total transaction of $47,546.40. The disclosure for this sale can be found here. Insiders own 49.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of WWE. Pinebridge Investments L.P. lifted its position in World Wrestling Entertainment by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock valued at $104,000 after purchasing an additional 51 shares during the period. Cubist Systematic Strategies LLC acquired a new position in World Wrestling Entertainment during the third quarter valued at $176,000. Piedmont Investment Advisors LLC acquired a new position in World Wrestling Entertainment during the third quarter valued at $201,000. Aperio Group LLC lifted its position in World Wrestling Entertainment by 2.1% during the second quarter. Aperio Group LLC now owns 10,469 shares of the company’s stock valued at $213,000 after purchasing an additional 220 shares during the period. Finally, FDx Advisors Inc. acquired a new position in World Wrestling Entertainment during the third quarter valued at $219,000. Institutional investors own 49.75% of the company’s stock.
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World Wrestling Entertainment Company Profile
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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