World Wrestling Entertainment (NYSE:WWE) Given a $110.00 Price Target at MKM Partners

MKM Partners set a $110.00 target price on World Wrestling Entertainment (NYSE:WWE) in a research report released on Friday morning, TipRanks reports. The firm currently has a buy rating on the stock.

WWE has been the subject of several other reports. Needham & Company LLC reissued a buy rating and set a $88.00 target price (down from $100.00) on shares of World Wrestling Entertainment in a research report on Wednesday, October 2nd. Consumer Edge assumed coverage on shares of World Wrestling Entertainment in a research report on Wednesday, October 2nd. They set an equal weight rating for the company. Benchmark raised shares of World Wrestling Entertainment from a hold rating to a buy rating and set a $90.00 price objective for the company in a research report on Friday, July 26th. Citigroup reduced their price objective on shares of World Wrestling Entertainment from $86.00 to $79.00 and set a neutral rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Co assumed coverage on shares of World Wrestling Entertainment in a research report on Monday, September 23rd. They issued an outperform rating and a $94.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. World Wrestling Entertainment currently has a consensus rating of Buy and a consensus price target of $98.81.

Shares of NYSE WWE traded down $3.26 during trading on Friday, hitting $67.00. 1,178,118 shares of the company traded hands, compared to its average volume of 1,025,913. The business’s fifty day moving average is $70.85 and its 200 day moving average is $76.12. World Wrestling Entertainment has a fifty-two week low of $58.50 and a fifty-two week high of $100.45. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 59.82 and a beta of 1.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.21 and a current ratio of 1.24.

World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.14. The firm had revenue of $268.90 million for the quarter, compared to analyst estimates of $271.21 million. World Wrestling Entertainment had a net margin of 8.42% and a return on equity of 23.92%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, analysts predict that World Wrestling Entertainment will post 0.99 EPS for the current year.

In related news, insider George A. Barrios sold 74,678 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $70.06, for a total transaction of $5,231,940.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michelle D. Wilson sold 158,134 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $69.30, for a total transaction of $10,958,686.20. Following the sale, the insider now owns 41,508 shares in the company, valued at $2,876,504.40. The disclosure for this sale can be found here. Insiders have sold a total of 255,047 shares of company stock worth $17,794,397 over the last 90 days. 43.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan lifted its stake in World Wrestling Entertainment by 2.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,070 shares of the company’s stock worth $583,000 after purchasing an additional 160 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in World Wrestling Entertainment by 13.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,831 shares of the company’s stock worth $130,000 after purchasing an additional 224 shares in the last quarter. Arizona State Retirement System lifted its stake in World Wrestling Entertainment by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 31,687 shares of the company’s stock worth $2,288,000 after purchasing an additional 280 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in World Wrestling Entertainment by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,032 shares of the company’s stock worth $219,000 after purchasing an additional 309 shares in the last quarter. Finally, First Manhattan Co. lifted its stake in World Wrestling Entertainment by 1.4% in the 2nd quarter. First Manhattan Co. now owns 23,418 shares of the company’s stock worth $1,691,000 after purchasing an additional 317 shares in the last quarter. Institutional investors and hedge funds own 71.03% of the company’s stock.

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.

Read More: 12b-1 Fees

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

Receive News & Ratings for World Wrestling Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Wrestling Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.