Citadel Advisors LLC Sells 132,667 Shares of Cincinnati Bell Inc. (CBB)
Citadel Advisors LLC decreased its stake in Cincinnati Bell Inc. (NYSE:CBB) by 90.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,840 shares of the utilities provider’s stock after selling 132,667 shares during the quarter. Citadel Advisors LLC’s holdings in Cincinnati Bell were worth $217,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in Cincinnati Bell by 6.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 424,937 shares of the utilities provider’s stock worth $5,886,000 after purchasing an additional 25,859 shares in the last quarter. Northern Trust Corp boosted its position in Cincinnati Bell by 1.2% during the first quarter. Northern Trust Corp now owns 525,751 shares of the utilities provider’s stock worth $7,282,000 after purchasing an additional 6,399 shares in the last quarter. Tibra Equities Europe Ltd boosted its position in Cincinnati Bell by 502.1% during the first quarter. Tibra Equities Europe Ltd now owns 67,169 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 56,014 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Cincinnati Bell by 36.4% during the first quarter. OppenheimerFunds Inc. now owns 51,053 shares of the utilities provider’s stock worth $707,000 after purchasing an additional 13,629 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Cincinnati Bell by 2.9% during the first quarter. Principal Financial Group Inc. now owns 324,946 shares of the utilities provider’s stock worth $4,500,000 after purchasing an additional 9,265 shares in the last quarter. Hedge funds and other institutional investors own 74.32% of the company’s stock.
In other Cincinnati Bell news, Director Phillip R. Cox sold 14,597 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $12.60, for a total transaction of $183,922.20. Following the completion of the transaction, the director now owns 9,216 shares of the company’s stock, valued at $116,121.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Shares of CBB stock opened at $15.35 on Wednesday. The company has a market cap of $749.85 million, a price-to-earnings ratio of -191.88 and a beta of 1.14. The company has a current ratio of 1.90, a quick ratio of 1.81 and a debt-to-equity ratio of -6.33. Cincinnati Bell Inc. has a 12-month low of $9.90 and a 12-month high of $22.20.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings results on Wednesday, August 8th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). Cincinnati Bell had a negative return on equity of 0.61% and a negative net margin of 3.98%. The business had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $298.03 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. research analysts predict that Cincinnati Bell Inc. will post -0.99 EPS for the current year.
Cincinnati Bell Profile
Cincinnati Bell Inc, together with its subsidiaries, provides diversified telecommunications and technology services to residential and business customers in the United States. It operates in two segments, Entertainment and Communications, and IT Services and Hardware. The Entertainment and Communications segment offers data services, including high-speed Internet access, data transport, and interconnection services, as well as metro-Ethernet products; and voice local services, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.
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