Duality Advisers LP has made a new investment in World Wrestling Entertainment, Inc. (WWE:NYE) by purchasing 4,545 shares of the WWE stock worth $311,000. This purchase was revealed in the institutional investor’s most recent 13F filing with the Securities and Exchange Commission (SEC).
Hedge Funds & Institutional Holdings:
Apart from Duality Advisers LP, other large investors have also modified their holdings of WWE. Envestnet Asset Management Inc. increased its stake in the company by 5.1% during the fourth quarter, owning 49,974 shares of the stock worth $3,424,000 after acquiring an additional 2,411 shares.
Meanwhile, Ninety One UK Ltd raised its stake in the company by 1.0%, owning 2,578,778 shares worth $176,698,000 after acquiring an additional 25,941 shares.
Retirement Systems of Alabama also lifted its position in the company by 0.8%, owning 57,070 shares worth $3,910,000 after acquiring an additional 454 shares.
Pacer Advisors Inc. lifted its position by 474.1%, owning 11,022 shares worth $755,000 after acquiring an additional 9,102 shares. Lastly, Synovus Financial Corp purchased a new position in the company worth about $225,000 during the fourth quarter. Hedge funds and other institutional investors now own 69.60% of the WWE stock.
WWE Stock Price Analysis:
The stock of World Wrestling Entertainment opened at $106.86 on Monday, with a 1.3% increase. WWE stock has a market capitalization of $7.96 billion, a P/E ratio of 54.80, and a beta of 1.19. Its 1-year low is $55.09 and its 1-year high is $110.24. The company’s debt-to-equity ratio is 0.66, its current ratio is 1.61, and its quick ratio is 1.44.
Quarterly Earnings Review:
In its latest quarterly earnings report on February 2nd, World Wrestling Entertainment (WWE:NYE) reported $0.52 EPS for the quarter, falling short of analysts’ consensus estimates of $0.60 by ($0.08). The company had a return on equity of 38.41% and a net margin of 13.24%. It generated revenue of $325.30 million during the quarter, compared to the consensus estimate of $333.25 million. The firm’s quarterly revenue was up 4.8% year-over-year, and as a group, research analysts predict that World Wrestling Entertainment, Inc. will post 2.74 EPS for the current year.
WWE Stock Dividend:
The company also recently announced a quarterly dividend, with investors of record on Thursday, June 15th, receiving a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, June 14th. World Wrestling Entertainment’s payout ratio is 24.62%.
WWE Stock-Analyst Ratings:
Several equities analysts have recently commented on WWE’s stock, with Loop Capital raising their price objective from $105.00 to $125.00, and Morgan Stanley raising their price target from $120.00 to $125.00.
Conclusion:
Overall, WWE’s recent performance has been solid, with a 4.8% increase in quarterly revenue and a return on equity of 38.41%. As the company continues to expand its business and partnerships, it will likely continue to be a popular choice among investors.
