Vincent K. Mcmahon Sells 3,204,427 Shares of World Wrestling Entertainment, Inc. (WWE) Stock

World Wrestling Entertainment, Inc. (NYSE:WWE) CEO Vincent K. Mcmahon sold 3,204,427 shares of World Wrestling Entertainment stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $81.45, for a total value of $261,000,579.15. Following the completion of the transaction, the chief executive officer now owns 3,285,919 shares in the company, valued at $267,638,102.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

WWE opened at $96.71 on Friday. The firm has a market cap of $7.55 billion, a P/E ratio of 86.35 and a beta of 1.36. World Wrestling Entertainment, Inc. has a 1 year low of $38.28 and a 1 year high of $99.25. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.08.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Friday, June 14th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.50%. World Wrestling Entertainment’s dividend payout ratio is currently 42.86%.

Several analysts have recently commented on the company. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $86.00 target price for the company in a research report on Sunday, January 6th. KeyCorp set a $104.00 target price on World Wrestling Entertainment and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Wolfe Research raised their target price on World Wrestling Entertainment from $105.00 to $157.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. raised their target price on World Wrestling Entertainment to $95.00 and gave the stock an “overweight” rating in a research report on Friday, February 8th. Finally, MKM Partners raised their target price on World Wrestling Entertainment from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $101.31.

Large investors have recently made changes to their positions in the business. Cerebellum GP LLC acquired a new stake in shares of World Wrestling Entertainment in the fourth quarter worth about $71,000. Metropolitan Life Insurance Co. NY increased its stake in shares of World Wrestling Entertainment by 75.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,081 shares of the company’s stock worth $1,874,000 after purchasing an additional 10,816 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of World Wrestling Entertainment by 100.4% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,355 shares of the company’s stock worth $624,000 after purchasing an additional 4,185 shares during the period. United Services Automobile Association increased its stake in shares of World Wrestling Entertainment by 15.9% in the third quarter. United Services Automobile Association now owns 7,614 shares of the company’s stock worth $737,000 after purchasing an additional 1,046 shares during the period. Finally, Sapphire Star Partners LP bought a new position in shares of World Wrestling Entertainment in the fourth quarter worth about $913,000. 64.11% of the stock is owned by institutional investors.

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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. 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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