TCW Group Inc. increased its stake in WideOpenWest Inc (NYSE:WOW) by 5.7% in the first quarter, HoldingsChannel reports. The firm owned 257,838 shares of the company’s stock after purchasing an additional 14,000 shares during the period. TCW Group Inc.’s holdings in WideOpenWest were worth $2,346,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of WideOpenWest during the first quarter worth approximately $121,000. Private Management Group Inc. increased its stake in shares of WideOpenWest by 1.4% during the first quarter. Private Management Group Inc. now owns 3,048,724 shares of the company’s stock worth $27,743,000 after buying an additional 41,615 shares during the period. Crestview Partners III GP L.P. increased its stake in shares of WideOpenWest by 3.7% during the first quarter. Crestview Partners III GP L.P. now owns 29,845,426 shares of the company’s stock worth $271,593,000 after buying an additional 1,077,250 shares during the period. Wells Fargo & Company MN increased its stake in shares of WideOpenWest by 343.3% during the first quarter. Wells Fargo & Company MN now owns 192,821 shares of the company’s stock worth $1,755,000 after buying an additional 149,329 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of WideOpenWest by 4.7% during the first quarter. Parametric Portfolio Associates LLC now owns 138,206 shares of the company’s stock worth $1,258,000 after buying an additional 6,249 shares during the period. Institutional investors own 59.24% of the company’s stock.
WOW has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of WideOpenWest from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th. Credit Suisse Group cut their target price on shares of WideOpenWest from $11.50 to $9.50 and set a “neutral” rating on the stock in a research note on Friday, March 8th. Macquarie lowered shares of WideOpenWest from an “outperform” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Tuesday, April 9th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of WideOpenWest from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $11.79.
In related news, Director Crestview Partners Iii Gp, L.P purchased 193,108 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $8.19 per share, for a total transaction of $1,581,554.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 1,591,671 shares of company stock worth $14,777,350 over the last quarter. 3.00% of the stock is currently owned by insiders.
Shares of WOW stock traded down $0.03 during trading hours on Wednesday, reaching $7.17. 2,603 shares of the stock were exchanged, compared to its average volume of 291,300. WideOpenWest Inc has a 12-month low of $6.40 and a 12-month high of $12.91. The firm has a market capitalization of $615.30 million, a price-to-earnings ratio of 6.22 and a beta of 1.52.
WideOpenWest (NYSE:WOW) last released its earnings results on Tuesday, May 7th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.09). The firm had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $287.92 million. WideOpenWest had a negative return on equity of 26.71% and a net margin of 6.94%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, sell-side analysts forecast that WideOpenWest Inc will post 0.8 earnings per share for the current fiscal year.
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WideOpenWest Company Profile
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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