StockNews.com Begins Coverage on World Wrestling Entertainment (NYSE:WWE)

StockNews.com initiated coverage on shares of World Wrestling Entertainment (NYSE:WWE – Get Rating) in a report released on Tuesday morning. The brokerage issued a hold rating on the stock.

A number of other brokerages also recently commented on WWE. Citigroup increased their price target on shares of World Wrestling Entertainment from $115.00 to $125.00 in a report on Thursday, May 11th. VNET Group reaffirmed a maintains rating on shares of World Wrestling Entertainment in a report on Thursday, May 4th. Roth Capital reaffirmed a buy rating on shares of World Wrestling Entertainment in a report on Friday, February 3rd. Wolfe Research lowered shares of World Wrestling Entertainment from an outperform rating to a peer perform rating in a research report on Monday, January 30th. Finally, Morgan Stanley increased their price objective on shares of World Wrestling Entertainment from $120.00 to $125.00 in a research report on Thursday, May 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $105.56.

World Wrestling Entertainment Stock Down 0.6 %

WWE opened at $101.53 on Tuesday. The firm has a 50-day simple moving average of $100.33 and a two-hundred day simple moving average of $87.64. World Wrestling Entertainment has a 52 week low of $58.72 and a 52 week high of $110.24. The company has a market capitalization of $7.56 billion, a PE ratio of 52.07 and a beta of 1.19. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.66.

World Wrestling Entertainment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Thursday, June 15th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, June 14th. World Wrestling Entertainment’s payout ratio is 24.62%.

Institutional Investors Weigh In On World Wrestling Entertainment

Several institutional investors have recently bought and sold shares of WWE. Dark Forest Capital Management LP acquired a new stake in shares of World Wrestling Entertainment during the fourth quarter worth $36,000. Fred Alger Management LLC lifted its stake in shares of World Wrestling Entertainment by 85.7% during the first quarter. Fred Alger Management LLC now owns 479 shares of the company’s stock worth $44,000 after buying an additional 221 shares during the period. Allworth Financial LP raised its holdings in shares of World Wrestling Entertainment by 30.8% during the first quarter. Allworth Financial LP now owns 526 shares of the company’s stock worth $48,000 after purchasing an additional 124 shares during the last quarter. Spire Wealth Management purchased a new position in shares of World Wrestling Entertainment during the fourth quarter worth $53,000. Finally, US Bancorp DE raised its holdings in shares of World Wrestling Entertainment by 55.9% during the first quarter. US Bancorp DE now owns 957 shares of the company’s stock worth $59,000 after purchasing an additional 343 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

World Wrestling Entertainment Company Profile

(Get Rating)

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.