Steinberg Global Asset Management Buys New Stake in World Wrestling Entertainment, Inc. (WWE)

Steinberg Global Asset Management bought a new stake in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 64,139 shares of the company’s stock, valued at approximately $2,310,000. Steinberg Global Asset Management owned approximately 0.08% of World Wrestling Entertainment as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WWE. Pearl River Capital LLC acquired a new position in World Wrestling Entertainment in the fourth quarter valued at about $36,000. Cerebellum GP LLC acquired a new position in World Wrestling Entertainment in the fourth quarter valued at about $71,000. Amundi Pioneer Asset Management Inc. acquired a new position in World Wrestling Entertainment in the fourth quarter valued at about $126,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in World Wrestling Entertainment by 11.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,505 shares of the company’s stock valued at $187,000 after buying an additional 259 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in World Wrestling Entertainment in the third quarter valued at about $219,000. Institutional investors and hedge funds own 63.76% of the company’s stock.

Shares of NYSE WWE traded up $1.15 during trading on Monday, reaching $97.25. The company had a trading volume of 1,144,140 shares, compared to its average volume of 901,651. World Wrestling Entertainment, Inc. has a 52 week low of $38.28 and a 52 week high of $97.96. The company has a market cap of $7.50 billion, a PE ratio of 86.83 and a beta of 1.36. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.08.

World Wrestling Entertainment (NYSE:WWE) last announced its earnings results on Thursday, February 7th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.14. World Wrestling Entertainment had a net margin of 10.71% and a return on equity of 34.02%. The company had revenue of $272.50 million during the quarter, compared to the consensus estimate of $255.01 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was up 28.8% on a year-over-year basis. As a group, equities research analysts forecast that World Wrestling Entertainment, Inc. will post 1.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Thursday, March 14th. World Wrestling Entertainment’s dividend payout ratio is presently 42.86%.

A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research report on Saturday. Cannonball Research lowered shares of World Wrestling Entertainment from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Monday, April 1st. MKM Partners boosted their price target on shares of World Wrestling Entertainment from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Wolfe Research boosted their price target on shares of World Wrestling Entertainment from $105.00 to $157.00 in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of World Wrestling Entertainment to $95.00 and gave the company an “overweight” rating in a research report on Friday, February 8th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $101.00.

In other World Wrestling Entertainment news, insider George A. Barrios sold 60,000 shares of the business’s stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $81.52, for a total value of $4,891,200.00. Following the completion of the transaction, the insider now directly owns 287,103 shares of the company’s stock, valued at $23,404,636.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vincent K. Mcmahon sold 3,204,427 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $81.45, for a total transaction of $261,000,579.15. Following the completion of the transaction, the chief executive officer now directly owns 3,285,919 shares of the company’s stock, valued at $267,638,102.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,304,427 shares of company stock valued at $269,243,779. Insiders own 43.90% of the company’s stock.

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World Wrestling Entertainment Company Profile

World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.

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Institutional Ownership by Quarter for World Wrestling Entertainment (NYSE:WWE)

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