World Wrestling Entertainment, Inc. (NYSE:WWE) Receives Average “Hold” Rating From Brokerages

Shares of World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) received a consensus rating of “Hold” from the thirteen research firms that cover the company, MarketBeat reports. One financial analyst rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The 12-month average price target among brokerages that have reported on the stock over the past year is $79.20.

A number of brokerages have commented on WWE. StockNews.com began covering World Wrestling Entertainment in a research report on Wednesday, October 12. They issued a “hold” rating for the company. Morgan Stanley raised its price target on World Wrestling Entertainment from $75.00 to $80.00 and gave the stock an “equal weight” rating in a Tuesday, November 29 research note. Northcoast Research downgraded World Wrestling Entertainment from a “buy” rating to a “neutral” rating in a Thursday, August 18, research rating. They noted that the move was a review call. MKM Partners raised its price target on World Wrestling Entertainment from $84.00 to $90.00 and gave the stock a “buy” rating in a Wednesday, October 19 research note. Finally, Citigroup raised its price target on World Wrestling Entertainment to $86.00 in a research note on Tuesday, November 15.

World Wrestling Entertainment Stock Performance

WWE shares opened at $75.41 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a leverage ratio of 0.82. The company has a 50-day simple moving average of $76.97 and a two-hundred-day simple moving average of $70.55. The stock has a market capitalization of $5.61 billion, a price/earnings ratio of 29.00 and a beta of 1.09. World Wrestling Entertainment has a 52-week low of $46.91 and a 52-week high of $81.63.

World Wrestling Entertainment announces dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 27. Investors of record on Thursday, December 15 will receive a dividend of $0.12 per share. This represents a dividend of $0.48 on an annualized basis and a yield of 0.64%. The ex-date of this dividend is Wednesday, December 14. World Wrestling Entertainment’s payout ratio is currently 18.46%.

Hedge funds weigh on World Wrestling Entertainment

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Allworth Financial LP increased its stake in World Wrestling Entertainment shares to 84.4% in Q3. Allworth Financial LP now owns 402 shares of the company valued at $28,000 after buying an additional 184 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in World Wrestling Entertainment stock in Q3 valued at approximately $32,000. Parallel Advisors LLC increased its stake in World Wrestling Entertainment shares by 26.5% in Q2. Parallel Advisors LLC now owns 745 shares of the company valued at $47,000 after purchasing an additional 156 shares in the last quarter. WD Rutherford LLC purchased a new stake in World Wrestling Entertainment stock in Q3 worth approximately $51,000. Finally, Assetmark Inc. purchased a new stake in World Wrestling Entertainment stock in Q2 valued at approximately $52,000. 69.94% of the shares are held by institutional investors.

About World Wrestling Entertainment

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World Wrestling Entertainment, Inc, an integrated media and entertainment company, is active in the sports entertainment business in North America, Europe, the Middle East, Africa, Asia Pacific and Latin America. It operates through three segments: Media, Live Events and Consumer Products. The Media segment is engaged in 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.

Further reading

Analyst Recommendations for World Wrestling Entertainment (NYSE: WWE)

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