WideOpenWest (NYSE:WOW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
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 research firms have also recently commented on WOW. B. Riley set a $14.00 price target on shares of WideOpenWest and gave the stock a “buy” rating in a research note on Sunday, August 12th. Credit Suisse Group boosted their price target on shares of WideOpenWest from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Friday, August 10th. ValuEngine raised shares of WideOpenWest from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Raymond James reissued a “buy” rating and issued a $14.00 price target on shares of WideOpenWest in a research note on Monday, August 20th. Finally, UBS Group upped their price objective on shares of WideOpenWest from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $13.93.
WOW stock traded up $0.01 during midday trading on Friday, reaching $11.09. The company had a trading volume of 156,410 shares, compared to its average volume of 452,398. The company has a debt-to-equity ratio of -5.29, a current ratio of 0.54 and a quick ratio of 0.54. WideOpenWest has a 1 year low of $6.03 and a 1 year high of $14.55. The stock has a market cap of $926.57 million, a PE ratio of 16.07 and a beta of 2.02.
WideOpenWest (NYSE:WOW) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.12. WideOpenWest had a negative net margin of 8.17% and a negative return on equity of 5.46%. The business had revenue of $291.30 million during the quarter, compared to analysts’ expectations of $290.44 million. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, research analysts expect that WideOpenWest will post 0.79 EPS for the current fiscal year.
In other WideOpenWest news, Director Crestview Partners Iii Gp, L.P acquired 115,600 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was bought at an average price of $10.92 per share, with a total value of $1,262,352.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 583,600 shares of company stock valued at $6,209,022 in the last ninety days. 2.40% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of WideOpenWest by 10.0% in the 2nd quarter. Northern Trust Corp now owns 334,797 shares of the company’s stock worth $3,234,000 after acquiring an additional 30,489 shares in the last quarter. Bank of New York Mellon Corp grew its position in WideOpenWest by 12.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 325,638 shares of the company’s stock valued at $3,146,000 after purchasing an additional 35,410 shares during the last quarter. Paragon Capital Management Ltd grew its position in WideOpenWest by 24.5% during the 2nd quarter. Paragon Capital Management Ltd now owns 57,070 shares of the company’s stock valued at $551,000 after purchasing an additional 11,240 shares during the last quarter. Millennium Management LLC grew its position in WideOpenWest by 944.1% during the 2nd quarter. Millennium Management LLC now owns 636,139 shares of the company’s stock valued at $6,145,000 after purchasing an additional 575,210 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new stake in WideOpenWest during the 2nd quarter valued at about $149,000. 61.76% of the stock is owned by institutional investors.
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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