Windstream Holdings, Inc. (NASDAQ:WIN) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 36,275,260 shares, a decline of 5.9% from the October 13th total of 38,542,200 shares. Based on an average daily volume of 2,978,832 shares, the short-interest ratio is presently 12.2 days. Approximately 19.3% of the company’s shares are sold short.
Shares of Windstream Holdings (NASDAQ WIN) opened at $2.12 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 20.24. Windstream Holdings has a 12-month low of $1.73 and a 12-month high of $8.35.
Windstream Holdings announced that its board has authorized a stock buyback plan on Thursday, August 3rd that permits the company to buyback $90.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 19.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several analysts have weighed in on the company. ValuEngine cut Windstream Holdings from a “sell” rating to a “strong sell” rating in a research report on Monday, October 2nd. BidaskClub raised Windstream Holdings from a “sell” rating to a “hold” rating in a research report on Monday, July 31st.
A number of institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC boosted its position in shares of Windstream Holdings by 287.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 115,280 shares of the technology company’s stock worth $204,000 after purchasing an additional 85,500 shares in the last quarter. Magnetar Financial LLC boosted its position in shares of Windstream Holdings by 192.6% in the 3rd quarter. Magnetar Financial LLC now owns 177,379 shares of the technology company’s stock worth $314,000 after purchasing an additional 116,767 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Windstream Holdings by 22.6% in the 3rd quarter. Royce & Associates LP now owns 2,346,752 shares of the technology company’s stock worth $4,154,000 after purchasing an additional 433,134 shares in the last quarter. 62.89% of the stock is currently owned by institutional investors and hedge funds.
About Windstream Holdings
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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