Executive at Media and Entertainment Company Sells Stock after Share Price Surges, Plus Other Interesting Insider Transactions

Member of Tyler Technologies’ Board Sells Shares – Routine Insider Selling?

There has been a huge volume of insider selling at Tyler Technologies Inc. (NYSE:TYL) in the past several weeks, though most selling was related to freshly-exercised stock options. Board member Larry D. Leinweber offloaded 18,720 shares on Monday for $156.42 each, 12,179 shares on Tuesday at $155.32 apiece, and 39,248 shares on Wednesday for $155.66 each. Mr. Leinweber, founder and former CEO of New World Systems – acquired by Tyler Technologies for $670 million in cash and stock back in 2015, currently owns an indirect ownership stake of 1.83 million shares through various trusts (mainly the Larry D. Leinweber Trust, which owns 1.14 million shares) following the transactions mentioned above.

While I would be inclined to view these transactions as routine (since Mr. Leinweber received his shares when the company he founded was acquired by Tyler in 2015), the timing of the sale could suggest that this is an opportune time for long-serving employees to diversify and sell some shares. The provider of end-to-end information management solutions and services for local governments has seen the value of its shares advance by 9% this year, an increase triggered by the release of the company’s fourth quarter results. Tyler Technologies Inc. (NYSE:TYL) reported total revenues of $193.3 million, which increased by 21.6% year-on-year. The organic growth reached 12.1%. Lou Simpson’s SQ Advisors added a 700,149-share position in Tyler Technologies Inc. (NYSE:TYL) to its portfolio during the fourth quarter.

Executive at Media and Entertainment Company Sells More than $2 Million Worth of Stock after Share Price Surges

One member of World Wrestling Entertainment Inc. (NYSE:WWE)’s executive team offloaded a huge portion of his stake at the beginning of the week. Kevin Dunn, Executive Vice President of Television Production, liquidated 100,908 class A shares on Tuesday at prices between $22.42 and $23.05 per share. Mr. Dunn owns a total of 529,620 shares after the sizeable sale.

The shares of the integrated media and entertainment company surged earlier this month after posting a stunning revenue beat with the release of the fourth-quarter and full-year earnings report. World Wrestling Entertainment Inc. (NYSE:WWE), which entertains the public via live and pay-per-view events and reality TV shows, reported $194.9 million in net operating revenue for the fourth quarter, a 17.3% increase compared to the same quarter of the previous year. In a similar vein, the company reported net income of $8.0 million, as compared to a net loss of $1.2 million posted a year ago. WWE shares have gained 46% in the past 12 months, thanks to a gain of 22% in 2017 alone. Ricky Sandler’s Eminence Capital reported owning 3.47 million shares of World Wrestling Entertainment Inc. (NYSE:WWE) through the latest round of 13F filings.

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