USA Financial Portformulas Corp Decreases Position in World Wrestling Entertainment, Inc. (WWE)

USA Financial Portformulas Corp decreased its position in shares of World Wrestling Entertainment, Inc. (NYSE:WWE) by 34.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,897 shares of the company’s stock after selling 2,626 shares during the period. USA Financial Portformulas Corp’s holdings in World Wrestling Entertainment were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. acquired a new position in World Wrestling Entertainment during the 3rd quarter worth about $222,000. Oregon Public Employees Retirement Fund acquired a new position in World Wrestling Entertainment during the 3rd quarter worth about $986,000. Columbus Circle Investors lifted its stake in World Wrestling Entertainment by 33.3% during the 3rd quarter. Columbus Circle Investors now owns 99,412 shares of the company’s stock worth $9,616,000 after acquiring an additional 24,843 shares in the last quarter. Cim LLC acquired a new position in World Wrestling Entertainment during the 3rd quarter worth about $1,387,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in World Wrestling Entertainment during the 3rd quarter worth about $285,000. 61.70% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO Mark Kowal sold 2,500 shares of the stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $79.45, for a total value of $198,625.00. Following the transaction, the chief accounting officer now owns 14,872 shares in the company, valued at approximately $1,181,580.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank A. Riddick III sold 6,300 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $80.86, for a total value of $509,418.00. Following the completion of the transaction, the director now owns 30,732 shares in the company, valued at approximately $2,484,989.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,996 shares of company stock worth $21,404,438. 45.10% of the stock is owned by company insiders.

Several research firms recently issued reports on WWE. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Monday, October 29th. Citigroup decreased their target price on World Wrestling Entertainment from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, October 29th. Cannonball Research raised World Wrestling Entertainment to a “buy” rating and set a $95.00 target price on the stock in a research note on Thursday, October 11th. Morgan Stanley increased their target price on World Wrestling Entertainment from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Finally, Needham & Company LLC increased their target price on World Wrestling Entertainment from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $85.25.

Shares of NYSE WWE opened at $70.16 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.10. World Wrestling Entertainment, Inc. has a 1-year low of $26.00 and a 1-year high of $97.69. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 79.73 and a beta of 1.18.

World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, October 25th. The company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.18. World Wrestling Entertainment had a return on equity of 27.69% and a net margin of 7.27%. The company had revenue of $188.40 million for the quarter, compared to the consensus estimate of $203.08 million. On average, research analysts expect that World Wrestling Entertainment, Inc. will post 0.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.48 annualized dividend and a yield of 0.68%. World Wrestling Entertainment’s dividend payout ratio (DPR) is 73.85%.

About World Wrestling Entertainment

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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.

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

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