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WWE can't pull out of slide

Apr. 11, 2014 3:58 PM ETWorld Wrestling Entertainment, Inc. (WWE)WWEBy: Stephen Alpher, SA News Editor
  • "World Wrestling (WWE -3.9%) is facing multiple challenging factors, including underwhelming subscription figures for their WWE network in addition to a multi-year negative earnings trend, suggesting that the firms' intrinsic value is materially lower than the current stock price," says Emmanuel Lemelson, who made the case for shorting the stock a few weeks back on Seeking Alpha, and updated his argument after Monday's disappointing video channel subscriber numbers.
  • "The stock may have gotten a little ahead of itself, and a lot of momentum names have been fading," concedes The Vertical Group's Kim Opiatowski, but the subscription numbers were good ones. He continues to rate the name a Buy with $33 price target.
  • Lemelson puts fair value at no more than $11.88 per share.

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