Balyasny Asset Management has upped its stake significantly in World Wrestling Entertainment, Inc. (NYSE:WWE) by 1.34 million shares to 1.68 million shares, representing 5.26% of the company’s outstanding shares, according to a recent 13G filing with the Security and Exchange Commission. The total stake has a market value of $23.69 million at the current price of the stock.
The investor seems to be upbeat about the entertainment company despite the poor performance of World Wrestling Entertainment, Inc. (NYSE:WWE)’s stock, which fell close to 15% year-to-date. The large increase in the position suggests the investor thinks the company is cheap and the stock price might recover soon.
Other investment firms that own important positions in World Wrestling Entertainment, Inc. (NYSE:WWE) are Mario Cibelli’s Marathon Partners with 735,000 shares, Jim Simons’ Renaissance Technologies with 1.98 million shares and John Taler’s Jat Capital Management which has 1.04 million shares shares, held as of the end of the first quarter.