WBI (NYSE:WBI) Shares Gap Down on Insider Selling

WBI (NYSE:WBI)’s share price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $33.19, but opened at $30.36. WBI shares last traded at $30.08, with a volume of 425,737 shares.

Specifically, Director David N. Capobianco sold 5,894,826 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $30.05, for a total transaction of $177,139,521.30. Following the sale, the director owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. This trade represents a 74.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Wbr Holdings Llc sold 5,894,826 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $30.05, for a total value of $177,139,521.30. Following the transaction, the insider directly owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. This trade represents a 74.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, major shareholder Waterbridge Resources Llc sold 5,894,826 shares of WBI stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $30.05, for a total value of $177,139,521.30. Following the sale, the insider directly owned 1,980,921 shares in the company, valued at $59,526,676.05. The trade was a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

Several research firms have issued reports on WBI. Barclays increased their price objective on WBI from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Wall Street Zen upgraded WBI from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. UBS Group set a $33.00 target price on WBI in a research report on Monday, March 16th. The Goldman Sachs Group raised their target price on shares of WBI from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Wells Fargo & Company upped their price target on shares of WBI from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.20.

WBI Stock Performance

The firm has a 50-day moving average of $29.40. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.79. The stock has a market cap of $3.53 billion and a P/E ratio of 114.40.

WBI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.20 annualized dividend and a yield of 0.7%. WBI’s dividend payout ratio is currently 80.00%.

WBI Company Profile

WaterBridge Infrastructure LLC is an integrated, pure-play water infrastructure company. WaterBridge Infrastructure LLC is based in HOUSTON.