WideOpenWest, Inc. (NYSE:WOW – Get Rating) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 1,960,000 shares, a decline of 19.3% from the September 15th total of 2,430,000 shares. Currently, 3.7% of the company’s shares are short sold. Based on an average trading volume of 546,900 shares, the short-interest ratio is currently 3.6 days.
Insider Activity
In related news, CEO Teresa L. Elder sold 14,900 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $20.00, for a total transaction of $298,000.00. Following the sale, the chief executive officer now directly owns 1,376,066 shares of the company’s stock, valued at approximately $27,521,320. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Donald Craig Martin sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $18.80, for a total transaction of $413,600.00. Following the sale, the general counsel now directly owns 330,208 shares of the company’s stock, valued at approximately $6,207,910.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Teresa L. Elder sold 14,900 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $20.00, for a total transaction of $298,000.00. Following the sale, the chief executive officer now directly owns 1,376,066 shares in the company, valued at $27,521,320. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,050 shares of company stock valued at $892,900. Company insiders own 4.00% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in WideOpenWest by 328.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,282,517 shares of the company’s stock worth $22,367,000 after purchasing an additional 982,931 shares during the period. TIG Advisors LLC acquired a new stake in WideOpenWest during the 2nd quarter worth $12,564,000. Natixis acquired a new stake in WideOpenWest during the 2nd quarter worth $11,863,000. Cardinal Capital Management LLC CT boosted its stake in WideOpenWest by 57.0% during the 1st quarter. Cardinal Capital Management LLC CT now owns 1,236,914 shares of the company’s stock worth $21,572,000 after purchasing an additional 449,020 shares during the period. Finally, Wellington Management Group LLP boosted its stake in WideOpenWest by 13.1% during the 1st quarter. Wellington Management Group LLP now owns 3,856,319 shares of the company’s stock worth $67,255,000 after purchasing an additional 445,917 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.
WideOpenWest Stock Down 1.8 %
Shares of NYSE:WOW traded down $0.24 during trading hours on Friday, reaching $13.32. The stock had a trading volume of 607,780 shares, compared to its average volume of 546,400. WideOpenWest has a 1 year low of $12.07 and a 1 year high of $22.94. The firm’s 50 day moving average is $16.66 and its 200-day moving average is $18.57. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 1.46 and a beta of 1.78.
WideOpenWest (NYSE:WOW – Get Rating) last issued its earnings results on Friday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). WideOpenWest had a net margin of 93.48% and a negative return on equity of 2.65%. The company had revenue of $176.10 million during the quarter, compared to analyst estimates of $177.42 million. During the same quarter in the previous year, the company posted ($0.27) EPS. The company’s quarterly revenue was down 38.7% on a year-over-year basis. Research analysts predict that WideOpenWest will post 0.31 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have commented on WOW. Benchmark dropped their price objective on shares of WideOpenWest to $23.00 in a research report on Monday, August 15th. B. Riley dropped their price objective on shares of WideOpenWest from $25.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday.
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; WOW tv+ that offers traditional cable video and cloud DVR functionality, voice remote with Google Assistant, and Netflix integration along with access to various streaming services and apps through the Google Play Store; and ultra-video products, as well as offers commercial-free movies, TV shows, sports, and other special event entertainment programs.
See Also
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