Rhumbline Advisers Has $2.08 Million Stake in Cincinnati Bell Inc. (CBB)
Rhumbline Advisers lifted its holdings in shares of Cincinnati Bell Inc. (NYSE:CBB) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 99,499 shares of the utilities provider’s stock after acquiring an additional 13,723 shares during the period. Rhumbline Advisers owned approximately 0.24% of Cincinnati Bell worth $2,075,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in CBB. SG Americas Securities LLC bought a new position in shares of Cincinnati Bell during the 3rd quarter worth about $136,000. Douglas Lane & Associates LLC bought a new position in Cincinnati Bell during the 4th quarter valued at about $206,000. Teacher Retirement System of Texas bought a new position in Cincinnati Bell during the 4th quarter valued at about $273,000. Municipal Employees Retirement System of Michigan lifted its holdings in Cincinnati Bell by 58.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,810 shares of the utilities provider’s stock valued at $314,000 after purchasing an additional 5,860 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new position in Cincinnati Bell during the 4th quarter valued at about $478,000. 84.14% of the stock is owned by institutional investors.
Cincinnati Bell stock opened at $13.90 on Thursday. Cincinnati Bell Inc. has a 1-year low of $13.75 and a 1-year high of $22.20. The company has a debt-to-equity ratio of -6.35, a current ratio of 1.99 and a quick ratio of 1.86.
Several equities analysts recently issued reports on CBB shares. Morgan Stanley started coverage on shares of Cincinnati Bell in a report on Thursday, November 30th. They set an “equal weight” rating and a $24.00 price target for the company. ValuEngine downgraded shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a report on Friday, February 2nd.
In related news, VP Christopher J. Wilson acquired 2,959 shares of the stock in a transaction on Friday, February 23rd. The stock was purchased at an average price of $14.45 per share, for a total transaction of $42,757.55. Following the transaction, the vice president now owns 51,723 shares of the company’s stock, valued at approximately $747,397.35. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Andrew R. Kaiser acquired 3,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $15.90 per share, with a total value of $47,700.00. Following the transaction, the chief financial officer now directly owns 24,280 shares in the company, valued at approximately $386,052. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,334 shares of company stock valued at $110,450 over the last three months. 1.40% of the stock is currently owned by insiders.
Cincinnati Bell 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.
Receive News & Ratings for Cincinnati Bell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Bell and related companies with MarketBeat.com's FREE daily email newsletter.