Vanguard Group Inc. Reduces Position in Cincinnati Bell Inc (CBB)

Vanguard Group Inc. lowered its holdings in Cincinnati Bell Inc (NYSE:CBB) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,386,962 shares of the utilities provider’s stock after selling 116,756 shares during the period. Vanguard Group Inc. owned approximately 12.79% of Cincinnati Bell worth $105,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinebridge Investments L.P. raised its position in shares of Cincinnati Bell by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,551 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 55 shares during the period. State of Alaska Department of Revenue increased its holdings in Cincinnati Bell by 78.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,316 shares of the utilities provider’s stock worth $162,000 after acquiring an additional 3,666 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in Cincinnati Bell by 4.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the utilities provider’s stock worth $195,000 after acquiring an additional 390 shares during the period. Karp Capital Management Corp bought a new stake in Cincinnati Bell during the 1st quarter worth approximately $231,000. Finally, BNP Paribas Arbitrage SA increased its holdings in Cincinnati Bell by 41.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,883 shares of the utilities provider’s stock worth $252,000 after acquiring an additional 3,779 shares during the period. 85.05% of the stock is currently owned by institutional investors.

Shares of Cincinnati Bell Inc (CBB) traded down $0.10 on Friday, reaching $19.45. 133,600 shares of the company’s stock traded hands, compared to its average volume of 325,304. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of -4.26. Cincinnati Bell Inc has a fifty-two week low of $16.05 and a fifty-two week high of $24.45. The stock has a market cap of $823.67, a PE ratio of 195.25, a P/E/G ratio of 5.55 and a beta of 1.47.

Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The business had revenue of $289.20 million during the quarter, compared to analyst estimates of $286.22 million. Cincinnati Bell had a net margin of 4.13% and a negative return on equity of 2.69%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. analysts predict that Cincinnati Bell Inc will post 1.17 earnings per share for the current fiscal year.

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A number of equities analysts have recently commented on CBB shares. BidaskClub raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Gabelli lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, ValuEngine raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Cincinnati Bell presently has a consensus rating of “Hold” and an average target price of $23.50.

Cincinnati Bell Company Profile

Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.

Institutional Ownership by Quarter for Cincinnati Bell (NYSE:CBB)

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