World Wrestling Entertainment, Inc. (NYSE:WWE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in World Wrestling Entertainment, Inc. (NYSE:WWE) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,528 shares of the company’s stock after selling 5,768 shares during the period. Principal Financial Group Inc. owned approximately 0.28% of World Wrestling Entertainment worth $16,553,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pearl River Capital LLC acquired a new position in World Wrestling Entertainment in the 4th quarter worth approximately $36,000. Cerebellum GP LLC purchased a new stake in World Wrestling Entertainment in the 4th quarter worth approximately $71,000. LPL Financial LLC purchased a new stake in World Wrestling Entertainment in the 3rd quarter worth approximately $219,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in World Wrestling Entertainment by 11.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,505 shares of the company’s stock worth $187,000 after buying an additional 259 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in World Wrestling Entertainment in the 3rd quarter worth approximately $291,000. Institutional investors and hedge funds own 64.11% of the company’s stock.

NYSE:WWE traded down $0.75 during midday trading on Wednesday, reaching $98.50. The stock had a trading volume of 1,083,600 shares, compared to its average volume of 910,154. World Wrestling Entertainment, Inc. has a 1-year low of $38.31 and a 1-year high of $100.45. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $7.43 billion, a PE ratio of 87.95 and a beta of 1.36.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, February 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.14. World Wrestling Entertainment had a net margin of 10.71% and a return on equity of 34.02%. The business had revenue of $272.50 million for the quarter, compared to analyst estimates of $255.01 million. During the same period last year, the business posted $0.20 EPS. World Wrestling Entertainment’s revenue was up 28.8% compared to the same quarter last year. As a group, analysts anticipate that World Wrestling Entertainment, Inc. will post 1.24 EPS for the current fiscal 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 is Thursday, June 13th. This represents a $0.48 annualized dividend and a yield of 0.49%. World Wrestling Entertainment’s dividend payout ratio is 42.86%.

WWE has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of 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 shares of World Wrestling Entertainment and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Wolfe Research increased their target price on shares of World Wrestling Entertainment from $105.00 to $157.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. increased their target price on shares of World Wrestling Entertainment to $95.00 and gave the stock an “overweight” rating in a research report on Friday, February 8th. Finally, MKM Partners increased their target price on shares of 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 investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $102.08.

In other World Wrestling Entertainment news, CEO Vincent K. Mcmahon sold 3,204,427 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $81.45, for a total value of $261,000,579.15. Following the sale, the chief executive officer now directly owns 3,285,919 shares in the company, valued at approximately $267,638,102.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider George A. Barrios sold 60,000 shares of the firm’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $81.52, for a total transaction of $4,891,200.00. Following the completion of the sale, the insider now owns 287,103 shares in the company, valued at $23,404,636.56. The disclosure for this sale can be found here. Insiders sold a total of 3,304,427 shares of company stock worth $269,243,779 over the last 90 days. Company insiders own 43.90% of the company’s stock.

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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.

Read More: Return on Investment (ROI)

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

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