Windstream (WIN) Bonds Drop 2.6% During Trading

An issue of Windstream Holdings, Inc. (NASDAQ:WIN) bonds fell 2.6% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 8.75% coupon and is set to mature on December 15, 2024. The bonds in the issue are now trading at $63.00 and were trading at $69.75 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

Several equities analysts have recently commented on WIN shares. Canaccord Genuity reaffirmed a “buy” rating and set a $3.00 target price on shares of Windstream in a report on Monday, December 4th. BidaskClub raised Windstream from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research raised Windstream from a “strong sell” rating to a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. lowered Windstream from a “neutral” rating to an “underweight” rating in a report on Tuesday, January 2nd. Finally, Barclays started coverage on Windstream in a report on Friday, December 15th. They set an “underweight” rating and a $1.50 target price for the company. Six analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Sell” and a consensus target price of $2.25.

Shares of Windstream Holdings, Inc. (NASDAQ WIN) traded up $0.04 during midday trading on Tuesday, hitting $1.48. The stock had a trading volume of 1,084,393 shares, compared to its average volume of 1,950,000. The company has a debt-to-equity ratio of 20.24, a quick ratio of 0.70 and a current ratio of 0.77. The firm has a market capitalization of $263.38, a P/E ratio of -0.56 and a beta of -0.39. Windstream Holdings, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $7.93.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP boosted its position in shares of Windstream by 17.7% during the fourth quarter. Royce & Associates LP now owns 2,762,415 shares of the technology company’s stock worth $5,110,000 after buying an additional 415,663 shares during the period. Wells Fargo & Company MN boosted its position in shares of Windstream by 148.1% during the fourth quarter. Wells Fargo & Company MN now owns 652,756 shares of the technology company’s stock worth $1,208,000 after buying an additional 389,632 shares during the period. California Public Employees Retirement System boosted its position in shares of Windstream by 38.0% during the fourth quarter. California Public Employees Retirement System now owns 2,322,351 shares of the technology company’s stock worth $4,296,000 after buying an additional 639,627 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Windstream by 300.4% during the fourth quarter. Teacher Retirement System of Texas now owns 60,764 shares of the technology company’s stock worth $112,000 after buying an additional 45,589 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in shares of Windstream by 8.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 582,661 shares of the technology company’s stock worth $1,078,000 after buying an additional 44,971 shares during the period. Institutional investors and hedge funds own 66.27% of the company’s stock.

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About Windstream

Windstream Corporation (Windstream) is a provider of advanced communications and technology solutions, including managed services and cloud computing, to businesses nationwide. In addition to business services, the Company offers broadband, voice and video services to consumers in primarily rural markets.

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