World Wrestling Entertainment, Inc. (NYSE:WWE) Sees Significant Growth in Short Interest

World Wrestling Entertainment, Inc. (NYSE:WWE) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 9,854,400 shares, an increase of 7.2% from the May 30th total of 9,190,300 shares. Approximately 24.4% of the company’s stock are short sold. Based on an average daily volume of 1,250,000 shares, the short-interest ratio is presently 7.9 days.

Hedge funds have recently added to or reduced their stakes in the business. Kwmg LLC bought a new position in shares of World Wrestling Entertainment during the first quarter worth about $49,000. FNY Investment Advisers LLC bought a new position in shares of World Wrestling Entertainment during the first quarter worth about $86,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of World Wrestling Entertainment during the fourth quarter worth about $126,000. Piedmont Investment Advisors Inc. bought a new position in shares of World Wrestling Entertainment during the first quarter worth about $214,000. Finally, First Republic Investment Management Inc. bought a new position in shares of World Wrestling Entertainment during the first quarter worth about $226,000. Hedge funds and other institutional investors own 67.71% of the company’s stock.

Shares of NYSE:WWE opened at $72.38 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $73.59. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 64.63 and a beta of 1.36. World Wrestling Entertainment has a 12-month low of $58.50 and a 12-month high of $100.45.

World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, April 25th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). World Wrestling Entertainment had a net margin of 8.26% and a return on equity of 25.24%. The business had revenue of $182.40 million for the quarter, compared to the consensus estimate of $199.24 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts forecast that World Wrestling Entertainment will post 1.02 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Friday, June 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.48 annualized dividend and a yield of 0.66%. World Wrestling Entertainment’s payout ratio is 42.86%.

WWE has been the topic of a number of recent research reports. JPMorgan Chase & Co. set a €54.00 ($62.79) target price on shares of Axel Springer and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. Zacks Investment Research lowered shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. MKM Partners lifted their price target on shares of World Wrestling Entertainment from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Finally, Cannonball Research lowered shares of World Wrestling Entertainment from a “buy” rating to a “neutral” rating and set a $88.00 price target for the company. in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $103.50.

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.

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