WWE is making some buzz on the stock market, but they are not buying any Game Stop shares. Subsequently, no amateurs are investing in them either. Top stockholders are investing in their own company.
Triple H and his wife Stephanie McMahon has made a move. With their recent investment, both of them won a larger stake combined than the CEO Vince McMahon.
However, Triple H and Stephanie are not the ones who did it. Mr. McMahon also bought a lot of WWE stocks on February fourth.
Stephanie McMahon previously sold over 40 percent of her stock in WWE in September 2020, worth around $2.25 million. According to the Security Exchange Commission’s filling Stephanie McMahon sold 57,573 shares of “Class A” WWE stock at $39.18 per share, which comes to a total of $2,255,710.14. Despite selling 57,573 shares, she still acquired 76,234 “Class A” shares.
Until the recent purchase, Stephanie McMahon owned 1,977,382 shares in total. In August 2020, Triple H also sold a similar amount of shares.
After five months, both Triple H and Stephanie McMahon are back in the game again after buying 11,228 shares together. However, both of them bought the same number of shares, which is 5,644.
Vince McMahon took the initiative first and bought 19,875 shares; as a result, the total number of shares became 89,496. With the new purchase Triple, H now won 87,046 shares, which is around 2,000 less than Mr. McMahon. On the other hand, Stephanie won 82,042 shares now. So, the couple now has a total of 169,088 shares combined, which makes them ahead of Mr. McMahon.
Besides, WWE Executive Producer & Chief of Global Television Distribution Kevin Dunn also made his move on buying 7,552 shares, leaving him with a new balance of 81,411 Class A common stock shares.
On the other hand, Chief Revenue Officer and President Nick Kahn took some actions too, and he bought 15,310 shares too.
The Rumor that lead Triple H and Stephanie buy the shares
It all started after a rumor suggests that WWE would be bought by NBC Universal.
President Nick Kahn talked about the rumor during an interview with Forbes. However, Kahn shot down any rumors and said, “We haven’t discussed it once. At all. By the way, thrilled with being on network TV at Fox. I think I sort of pushed on the emphasis [during the earnings call] on broadcast television, and how important that is, so love that, love what we’re doing with NBC, but no, there has been no dialogue internally or externally on anything like that.”
Due to the increase in the television rights fee, WWE sees its most profitable time. Besides, their recent sign up with NBCUniversal to move the TV rights from WWE Network to Peacock would surge the stock price too. Subsequently, it is a brilliant move by Triple H and Stephanie to become the maximum shareholder together.