5 Stocks to Sell Now According to Michael Zimmerman’s Prentice Capital Management

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1. World Wrestling Entertainment, Inc. (NYSE:WWE)

Number of Hedge Fund Holders: 25
Percentage Decrease in Stake in Q4: 100%

World Wrestling Entertainment, Inc. (NYSE:WWE), a diversified media and entertainment company, competes in the sports entertainment industry in North America, the Middle East, Africa, Europe, Asia Pacific, and Latin America. Michael Zimmerman added World Wrestling Entertainment, Inc. (NYSE:WWE) to his portfolio in the third quarter by buying 98,976 shares. However, the hedge fund sold all the shares of World Wrestling Entertainment, Inc. (NYSE:WWE) in the fourth quarter of 2021.

In the fourth quarter of 2021, 25 of the 924 hedge funds owned interests in World Wrestling Entertainment, Inc. (NYSE:WWE) worth $199.23 million, compared to the same number of funds owning stakes in World Wrestling Entertainment, Inc. (NYSE:WWE) totaling $223.95 million in the previous quarter.

JPMorgan analyst David Karnovsky boosted his price objective on World Wrestling Entertainment, Inc. (NYSE:WWE) to $64 from $58 on April 21 and maintained a Neutral rating on the stock ahead of the Q1 2022 earnings. After executing several action items since World Wrestling Entertainment, Inc. (NYSE:WWE) released Q4 earnings, the analyst upgraded his EBITDA expectations for 2022.

ClearBridge Investments, in its first quarter 2021 investor letter, mentioned World Wrestling Entertainment, Inc. (NYSE:WWE). Here is what the fund said:

“We also sold World Wrestling Entertainment as we believe the shares reflected full value after finally signing a U.S. content distribution agreement.”

You can also take a peek at 8 Stocks to Sell Now According to Mitch Cantor’s Mountain Lake Investment Management and 10 Tech Stocks to Buy Now According to Robert Pitts’ Steadfast Capital.

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