WideOpenWest Inc (NYSE:WOW) shares saw strong trading volume on Tuesday . 650,939 shares were traded during trading, an increase of 98% from the previous session’s volume of 328,869 shares.The stock last traded at $5.98 and had previously closed at $5.94.
A number of analysts have commented on WOW shares. ValuEngine raised shares of WideOpenWest from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded shares of WideOpenWest from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. Finally, Raymond James lowered shares of WideOpenWest from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $11.00 to $8.00 in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. WideOpenWest presently has an average rating of “Hold” and a consensus target price of $8.88.
The company has a market cap of $516.64 million, a PE ratio of 5.91 and a beta of 1.53. The stock has a fifty day moving average price of $6.26 and a 200-day moving average price of $6.62.
WideOpenWest (NYSE:WOW) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $285.40 million for the quarter, compared to the consensus estimate of $288.71 million. WideOpenWest had a negative return on equity of 21.20% and a net margin of 3.91%. WideOpenWest’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, research analysts predict that WideOpenWest Inc will post 0.56 EPS for the current year.
In related news, Director Crestview Partners Iii Gp, L.P bought 18,120 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was bought at an average price of $5.99 per share, with a total value of $108,538.80. Also, CEO Teresa L. Elder purchased 12,672 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $5.92 per share, for a total transaction of $75,018.24. Following the completion of the acquisition, the chief executive officer now owns 1,054,188 shares in the company, valued at $6,240,792.96. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 709,789 shares of company stock worth $4,106,902. Company insiders own 3.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in shares of WideOpenWest by 422.8% during the 3rd quarter. Millennium Management LLC now owns 914,831 shares of the company’s stock valued at $5,635,000 after buying an additional 739,831 shares during the last quarter. Squarepoint Ops LLC acquired a new position in WideOpenWest in the third quarter worth approximately $676,000. Zebra Capital Management LLC raised its position in WideOpenWest by 11.2% during the third quarter. Zebra Capital Management LLC now owns 59,833 shares of the company’s stock valued at $369,000 after acquiring an additional 6,009 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in WideOpenWest by 4,675.2% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 9,374,516 shares of the company’s stock valued at $57,747,000 after acquiring an additional 9,178,198 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in WideOpenWest in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 78.03% of the company’s stock.
About WideOpenWest (NYSE:WOW)
WideOpenWest, Inc provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. Its video services include basic cable services that comprise local broadcast television and local community programming; digital cable services; and ultra-video products, as well as offers commercial-free movies, sports, and other special event entertainment programs.
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