WideOpenWest (NYSE:WOW) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Saturday, March 17th.
According to Zacks, “WideOpenWest, Inc. is a cable operator primarily in the United States. The company provides high-speed Internet, cable TV and phone serving communities. WideOpenWest, Inc.is based in Englewood, United States. “
A number of other brokerages have also recently weighed in on WOW. Royal Bank of Canada dropped their price target on WideOpenWest from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 22nd. UBS cut WideOpenWest from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Thursday, March 15th. SunTrust Banks lowered their target price on WideOpenWest to $13.00 and set a “buy” rating on the stock in a research note on Thursday, March 15th. Finally, ValuEngine cut WideOpenWest from a “hold” rating to a “sell” rating in a research note on Thursday, March 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $18.00.
WOW traded down $0.28 during trading on Friday, reaching $6.85. The company had a trading volume of 359,459 shares, compared to its average volume of 808,604. The stock has a market capitalization of $608.09 and a P/E ratio of 9.93. WideOpenWest has a 12-month low of $6.83 and a 12-month high of $18.83. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of -10.90.
WideOpenWest (NYSE:WOW) last issued its quarterly earnings results on Wednesday, March 14th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.53). The company had revenue of $292.80 million during the quarter, compared to analysts’ expectations of $296.05 million. research analysts predict that WideOpenWest will post 0.9 earnings per share for the current year.
In related news, major shareholder Avista Capital Managing Member sold 1,440,293 shares of the business’s stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $7.16, for a total value of $10,312,497.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Crestview Partners Iii Gp, L.P purchased 1,456,767 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was purchased at an average cost of $7.19 per share, with a total value of $10,474,154.73. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,477,132 shares of company stock valued at $10,624,244.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Park West Asset Management LLC grew its stake in shares of WideOpenWest by 440.0% in the 4th quarter. Park West Asset Management LLC now owns 412,902 shares of the company’s stock valued at $4,364,000 after buying an additional 336,439 shares in the last quarter. Millennium Management LLC grew its stake in shares of WideOpenWest by 61.1% in the 4th quarter. Millennium Management LLC now owns 302,192 shares of the company’s stock valued at $3,194,000 after buying an additional 114,633 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of WideOpenWest by 23.6% in the 4th quarter. Teachers Advisors LLC now owns 45,906 shares of the company’s stock valued at $485,000 after buying an additional 8,772 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of WideOpenWest by 64.7% in the 4th quarter. Guggenheim Capital LLC now owns 129,073 shares of the company’s stock valued at $1,363,000 after buying an additional 50,700 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of WideOpenWest by 111.7% in the 4th quarter. Deutsche Bank AG now owns 59,291 shares of the company’s stock valued at $625,000 after buying an additional 31,283 shares in the last quarter. 54.81% of the stock is owned by institutional investors and hedge funds.
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WideOpenWest, Inc operates as a cable operator in the United States. It provides high-speed data, cable television, voice over IP-based telephony, and business-class services to residential and business services customers. 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 provides commercial-free movies, sports, and other special event entertainment programs.
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