WWE Executives Sell Stock Ahead Of Q2 Earnings Call
Vince McMahon offloaded $886,794 worth of company shares.
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Ahead of their Q2 earnings call tomorrow, several top WWE executives have shifted a boatload of the company's stock.
According to PWInsider, recent SEC filings show that Vince McMahon, Paul 'Triple H' Levesque and Stephanie McMahon all flogged thousands of shares at $70.23 a piece. Company co-presidents George Barrios and Michelle Wilson also cashed in, as did long-time producer Kevin Dunn and Corporate Controller (don't ask) Mark Kowal.
The group sold the following:
- Vince McMahon sold 12627 shares for $70.23
- George Barrios sold 139175 shares for between $69.46 to $70.62
- Kevin Dunn sold 68628 shares for $70.23
- Mark Kowal sold 3845 shares for $70.23
- Paul Levesque sold 17563 shares for $70.23
- Stephanie McMahon sold 17681 shares for $70.23
- Michelle Wilson sold 65318 shares for $70.23
Presumably, WWE are expecting the stock value to fall following tomorrow's earnings call - hence the trades. This past week, the company promoted a huge 'Raw Reunion' show in the hope a spike in ratings will appease investors come Thursday, who have seen numbers continue to tumble throughout the year.
Since the corporate offloading, the stock price has already dropped a dollar. With no excuses left for their lack of upswing, it might be a while before it rebounds.