World Wrestling Entertainment Inc. (NYSE: WWE) stock jumped 0.94% on Wednesday to $102.13 against a previous-day closing price of $101.18. With 0.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.27 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $103.02 whereas the lowest price it dropped to was $100.71. The 52-week range on WWE shows that it touched its highest point at $110.24 and its lowest point at $58.72 during that stretch. It currently has a 1-year price target of $112.44. With its current market cap of 7.78 billion, WWE has annualized dividend of $0.48 while the current yield stands at 0.47%. Beta for the stock currently stands at 1.16.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WWE was up-trending over the past week, with a rise of 1.21%, but this was down by -5.61% over a month. Three-month performance surged to 18.04% while six-month performance rose 29.59%. The stock gained 65.58% in the past year, while it has gained 49.05% so far this year. A look at the trailing 12-month EPS for WWE yields 1.88 with Next year EPS estimates of 3.21. For the next quarter, that number is 0.94. This implies an EPS growth rate of 6.20% for this year and 20.02% for next year. EPS is expected to grow by 17.40% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 31.70%.
Float and Shares Shorts:
At present, 74.44 million WWE shares are outstanding with a float of 43.00 million shares on hand for trading. On Apr 27, 2023, short shares totaled 10.48 million, which was 14.07% higher than short shares on Mar 30, 2023. In addition to Mr. Vincent K. McMahon as the firm’s Co-Founder & Exec. Chairman, Mr. Nick Khan serves as its CEO, Chief Revenue Officer & Director.
Institutional Ownership:
Through their ownership of 121.55% of WWE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.39% of WWE, in contrast to 63.03% held by mutual funds. Shares owned by individuals account for 58.59%. As the largest shareholder in WWE with 17.09% of the stake, Lindsell Train Ltd. holds 7,406,037 shares worth 7,406,037. A second-largest stockholder of WWE, The Vanguard Group, Inc., holds 4,137,350 shares, controlling over 9.55% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in WWE, holding 3,656,940 shares or 8.44% stake. With a 8.81% stake in WWE, the Lindsell Train Global Funds Plc – is the largest stakeholder. A total of 3,818,516 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.12% of WWE stock, is the second-largest Mutual Fund holder. It holds 1,352,652 shares valued at 144.96 million. Vanguard Total Stock Market ETF holds 3.12% of the stake in WWE, owning 1,352,555 shares worth 144.95 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, WWE reported revenue of $328.20M and operating income of $69.30M. The EBITDA in the recently reported quarter was $78.60M and diluted EPS was $0.58.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WWE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With WWE analysts setting a high price target of $130.00 and a low target of $109.00, the average target price over the next 12 months is $123.43. Based on these targets, WWE could surge 27.29% to reach the target high and rise by 6.73% to reach the target low. Reaching the average price target will result in a growth of 20.86% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded WWE stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 142,244 shares were bought while 0 shares were sold. The number of buy transactions has increased to 47 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 456,790 while 142,558 shares were sold.
