WWE Sale Potential Increases Following McMahon Retirement - Analysts

WWE discloses expenses tied to ex-CEO Vince McMahon, to restate results

July 25, 2022 9:51 AM EDT

(Reuters) -World Wrestling Entertainment Inc said it would restate some of its financial results after finding unrecorded expenses made by former Chief Executive Officer Vince McMahon, who stepped down last week amid allegations of misconduct.

The expenses total $14.6 million and were made from 2006, the company said in a regulatory filing on Monday. It would revise financial statements for the years ended 2019, 2020 and 2021, as well as the first quarter of 2022.

McMahon, 76,... More

WWE (WWE), Board of Directors Announce New Co-CEOs Stephanie McMahon and Nick Khan, Announces Prelim. Results

July 25, 2022 8:46 AM EDT

WWE® (NYSE: WWE) and its Board of Directors today announced the appointment of Stephanie McMahon and Nick Khan as co-Chief Executive Officers. Ms. McMahon has also been appointed Chairwoman of the Board, and Mr. Khan will continue to serve as a member of the Board. These appointments follow Vince McMahons retirement announcement on Friday, July 22.

We are grateful for the opportunity to lead WWE together with our unmatched management team, said Ms. McMahon and Mr. Khan. We recognize this is a tremendous opportunity and responsibility, and we look forward to serving the WWE... More

UPDATE: World Wrestling Entertainment (WWE) PT Raised to $79 at MKM Partners, 'we do not expect any consequential disruptions'

July 25, 2022 8:04 AM EDT

(Updated - July 25, 2022 8:05 AM EDT)

MKM Partners analyst Eric Handler raised the price target on World Wrestling Entertainment (NYSE: WWE) to $79.00 (from $70.00) while maintaining a Buy rating.

The analyst comments "The retirement of Vince McMahon marks a major event in WWE... More

UPDATE: Loop Capital Upgrades World Wrestling Entertainment (WWE) to Buy

July 25, 2022 7:19 AM EDT

(Updated - July 25, 2022 8:00 AM EDT)

Loop Capital analyst Alan Gould upgraded World Wrestling Entertainment (NYSE: WWE) from Hold to Buy with a price target of $90.00 (from $59.00).

The analyst comments "We are upgrading WWE to Buy from Hold and Raising our PT to $90 from $59 based... More