Bank of New York Mellon Corp bought a new stake in WideOpenWest Inc (NYSE:WOW) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 66,289 shares of the company’s stock, valued at approximately $1,000,000.
A number of other institutional investors also recently modified their holdings of WOW. Tower Research Capital LLC TRC purchased a new position in WideOpenWest in the second quarter valued at about $113,000. New Jersey Better Educational Savings Trust increased its holdings in WideOpenWest by 80.0% in the third quarter. New Jersey Better Educational Savings Trust now owns 18,000 shares of the company’s stock valued at $271,000 after buying an additional 8,000 shares in the last quarter. Wells Fargo & Company MN purchased a new position in WideOpenWest in the second quarter valued at about $274,000. Tudor Investment Corp ET AL purchased a new position in WideOpenWest in the second quarter valued at about $279,000. Finally, Rhumbline Advisers purchased a new position in WideOpenWest in the third quarter valued at about $295,000. 53.79% of the stock is owned by institutional investors.
In other news, Director Thomas Patrick Mcmillin bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were purchased at an average price of $9.78 per share, for a total transaction of $97,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Catherine Kuo bought 17,722 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were purchased at an average price of $9.69 per share, for a total transaction of $171,726.18. The disclosure for this purchase can be found here. Insiders bought 77,007 shares of company stock worth $752,075 over the last quarter.
A number of research analysts have issued reports on WOW shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $20.00 target price on shares of WideOpenWest in a report on Monday, September 18th. Zacks Investment Research upgraded shares of WideOpenWest from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, November 16th. UBS Group lowered their price target on shares of WideOpenWest from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, November 14th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $18.00 price target on shares of WideOpenWest in a research report on Tuesday, November 14th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $18.25.
Shares of WideOpenWest Inc (NYSE:WOW) opened at $10.35 on Friday. The company has a market cap of $918.79 and a P/E ratio of 8.09. WideOpenWest Inc has a 1 year low of $8.64 and a 1 year high of $18.83. The company has a debt-to-equity ratio of -8.37, a current ratio of 0.73 and a quick ratio of 0.73.
WideOpenWest (NYSE:WOW) last released its quarterly earnings results on Monday, November 13th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.20 by $0.17. The business had revenue of $297.80 million during the quarter, compared to analyst estimates of $302.00 million. The company’s revenue was down 4.3% compared to the same quarter last year. sell-side analysts predict that WideOpenWest Inc will post 0.77 EPS for the current fiscal year.
WideOpenWest Company Profile
WideOpenWest, Inc is a cable operator in the United States. The Company provides high-speed data (HSD), cable television (Video), digital telephony (Telephony) and business-class services. The Company’s products are available either as a bundle or as an individual service to residential and business services customers.
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