PNC Financial Services Group Inc. reduced its holdings in World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) by 22.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,321 shares of the company’s stock after selling 1,228 shares during the period. PNC Financial Services Group Inc.’s holdings in World Wrestling Entertainment were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of WWE. MQS Management LLC purchased a new position in World Wrestling Entertainment during the fourth quarter worth about $305,000. Jupiter Asset Management Ltd. raised its stake in World Wrestling Entertainment by 5.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 272,404 shares of the company’s stock worth $18,660,000 after purchasing an additional 15,081 shares during the period. Castleark Management LLC raised its stake in World Wrestling Entertainment by 1.6% during the fourth quarter. Castleark Management LLC now owns 96,280 shares of the company’s stock worth $6,597,000 after purchasing an additional 1,500 shares during the period. Qsemble Capital Management LP purchased a new position in World Wrestling Entertainment during the fourth quarter worth about $206,000. Finally, Pinebridge Investments L.P. raised its stake in 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. 69.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of World Wrestling Entertainment in a research report on Thursday, May 4th. Morgan Stanley boosted their price target on shares of World Wrestling Entertainment from $120.00 to $125.00 in a report on Thursday, May 4th. Benchmark cut shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. VNET Group reiterated a “maintains” rating on shares of World Wrestling Entertainment in a report on Thursday, May 4th. Finally, StockNews.com assumed coverage on shares of World Wrestling Entertainment in a research report on Wednesday, May 31st. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.56.
World Wrestling Entertainment Trading Down 0.3 %
NYSE WWE opened at $99.93 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.60 and a current ratio of 1.61. World Wrestling Entertainment, Inc. has a one year low of $58.72 and a one year high of $110.24. The company’s 50 day moving average price is $102.75 and its 200 day moving average price is $89.18. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 51.25 and a beta of 1.16.
World Wrestling Entertainment Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Wednesday, June 14th. World Wrestling Entertainment’s payout ratio is currently 24.62%.
World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc is an integrated media and entertainment company, which engages in the production and distribution of content through various channels. It operates through the following business segments: Media, Live Events, and Consumer Products. The Media segment reflects the production and monetization of long-form and short-form video content across various platforms including WWE Network, broadcast and pay television, digital and social media, as well as filmed entertainment.
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