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 through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment. The Live Events segment is involved in the sale of tickets; provision of event services; and sale of travel packages related to its live events. The Consumer Products segment engages in merchandising of WWE branded products, such as video games, toys, apparel, and books through licensing arrangements and direct-to-consumer sales, as well as through e-commerce platforms. World Wrestling Entertainment, Inc. was founded in 1980 and is headquartered in Stamford, Connecticut.
World Wrestling Entertainment Stock Down 0.3 %
WWE traded down $0.23 during trading on Friday, reaching $72.21. 6,133 shares of the stock traded hands, compared to its average volume of 805,615. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.53 and a quick ratio of 1.51. World Wrestling Entertainment has a fifty-two week low of $46.81 and a fifty-two week high of $73.69. The stock's 50-day simple moving average is $65.65 and its two-hundred day simple moving average is $61.20. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 30.31 and a beta of 1.20.
World Wrestling Entertainment Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Thursday, September 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. World Wrestling Entertainment's dividend payout ratio is currently 20.08%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. MKM Partners upped their target price on World Wrestling Entertainment from $70.00 to $79.00 and gave the company a "buy" rating in a report on Monday, July 25th. TheStreet upgraded shares of World Wrestling Entertainment from a "c+" rating to a "b-" rating in a report on Monday, May 16th. Guggenheim boosted their price target on shares of World Wrestling Entertainment from $75.00 to $82.00 and gave the company a "buy" rating in a report on Thursday, June 16th. Benchmark upped their price target on shares of World Wrestling Entertainment from $71.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of World Wrestling Entertainment from $58.00 to $64.00 in a research report on Thursday, April 21st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.44.
Insider Activity at World Wrestling Entertainment
In other news, insider Kevin Dunn sold 15,000 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $66.70, for a total transaction of $1,000,500.00. Following the transaction, the insider now owns 271,171 shares in the company, valued at approximately $18,087,105.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 41.40% of the company's stock.