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

Shares of WBI (NYSE:WBI) 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 WBI stock in a transaction dated 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 director 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wbr Holdings Llc sold 5,894,826 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $30.05, for a total transaction of $177,139,521.30. Following the sale, the insider directly owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. The trade was a 74.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other news, major shareholder Waterbridge Resources Llc sold 5,894,826 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were 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 approximately $59,526,676.05. This trade represents a 74.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group set a $33.00 price objective on shares of WBI in a research report on Monday, March 16th. Wall Street Zen upgraded shares of WBI from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Morgan Stanley lifted their price target on shares of WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Wells Fargo & Company upped their price target on WBI from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Finally, Barclays increased their price objective on WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.20.

WBI Stock Performance

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

WBI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.20 dividend on an annualized basis and a dividend 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.