Gamco Investors, Inc. Et Al

recently stated that they own 11.9% of Cincinnati Bell Inc (NYSE:CBB) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, August 16th. The investor owns 5,028,070 shares of the stock worth about $106,846,488. The reporting parties listed on the disclosure included Gabelli Funds, LLC ID No 134044523, GAMCO Asset Management Inc ID No 134044521, MJG Associates, Inc ID No 061304269, Teton Advisors, Inc ID No 134008049, GGCP, Inc ID No 133056041, GAMCO Investors, Inc ID No 134007862, Associated Capital Group, Inc ID No 473965991 and Mario J Gabelli. The filing is available through the SEC website at this link.

Gamco Investors, Inc. Et Al

provided the following explanation of their ownership:

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Several other large investors also recently made changes to their positions in CBB. BlackRock Inc. raised its stake in shares of Cincinnati Bell by 58,412.1% in the first quarter. BlackRock Inc. now owns 6,270,745 shares of the utilities provider’s stock worth $110,992,000 after buying an additional 6,260,028 shares during the period. Dimensional Fund Advisors LP raised its stake in Cincinnati Bell by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,597,132 shares of the utilities provider’s stock valued at $31,224,000 after buying an additional 62,600 shares during the last quarter. FMR LLC raised its stake in Cincinnati Bell by 80.7% in the first quarter. FMR LLC now owns 1,423,672 shares of the utilities provider’s stock valued at $25,199,000 after buying an additional 635,900 shares during the last quarter. State Street Corp raised its stake in Cincinnati Bell by 4.0% in the second quarter. State Street Corp now owns 1,117,322 shares of the utilities provider’s stock valued at $21,837,000 after buying an additional 43,375 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in Cincinnati Bell by 44.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,005,813 shares of the utilities provider’s stock valued at $19,664,000 after buying an additional 307,951 shares during the last quarter. 85.08% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Bell Inc (NYSE CBB) traded down 0.70% during midday trading on Wednesday, reaching $21.25. 294,798 shares of the company’s stock traded hands. Cincinnati Bell Inc has a 1-year low of $16.05 and a 1-year high of $24.45. The company has a market capitalization of $896.22 million, a PE ratio of 12.96 and a beta of 1.66. The firm’s 50 day moving average price is $19.12 and its 200-day moving average price is $18.81.

Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. Cincinnati Bell had a net margin of 6.84% and a negative return on equity of 3.87%. The company had revenue of $294 million for the quarter, compared to the consensus estimate of $284.28 million. During the same period last year, the firm posted $0.04 EPS. Cincinnati Bell’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts expect that Cincinnati Bell Inc will post $1.03 EPS for the current year.

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Several equities research analysts have commented on the stock. Gabelli lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 price target (down from $25.00) on shares of Cincinnati Bell in a report on Wednesday, June 14th. BidaskClub raised shares of Cincinnati Bell from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, ValuEngine lowered shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.50.

Cincinnati Bell Company Profile

Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.

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Institutional Ownership by Quarter for Cincinnati Bell (NYSE:CBB)

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