World Wrestling Entertainment (WWE) Upgraded at ValuEngine
World Wrestling Entertainment (NYSE:WWE) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.
Several other equities research analysts also recently commented on WWE. Guggenheim reissued a “buy” rating and issued a $42.00 price objective (up previously from $40.00) on shares of World Wrestling Entertainment in a report on Thursday, February 22nd. MKM Partners reissued a “buy” rating and issued a $44.00 price objective (up previously from $41.00) on shares of World Wrestling Entertainment in a report on Tuesday, February 13th. Morgan Stanley raised World Wrestling Entertainment from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective for the company in a report on Tuesday, January 30th. Wells Fargo & Co raised World Wrestling Entertainment from a “market perform” rating to an “outperform” rating in a report on Thursday, January 4th. Finally, Zacks Investment Research downgraded World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $38.11.
World Wrestling Entertainment (NYSE:WWE) opened at $38.19 on Thursday. World Wrestling Entertainment has a 12-month low of $19.12 and a 12-month high of $38.69. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.77 and a current ratio of 2.83. The firm has a market capitalization of $2,940.00, a P/E ratio of 68.20 and a beta of 0.84.
In related news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $28.68, for a total value of $95,791,200.00. Following the sale, the chief executive officer now owns 3,340,000 shares in the company, valued at approximately $95,791,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Kowal sold 2,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $36.70, for a total value of $73,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,343,419 shares of company stock worth $95,915,017. 49.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Elkfork Partners LLC bought a new stake in World Wrestling Entertainment in the 4th quarter valued at $147,000. Cubist Systematic Strategies LLC bought a new stake in World Wrestling Entertainment in the 3rd quarter valued at $176,000. LS Investment Advisors LLC increased its position in World Wrestling Entertainment by 31.6% during the 4th quarter. LS Investment Advisors LLC now owns 6,296 shares of the company’s stock worth $193,000 after buying an additional 1,512 shares during the period. Piedmont Investment Advisors LLC bought a new position in World Wrestling Entertainment during the 3rd quarter worth $201,000. Finally, FDx Advisors Inc. bought a new position in World Wrestling Entertainment during the 3rd quarter worth $219,000. Institutional investors and hedge funds own 51.71% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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