WideOpenWest Inc (WOW) Stake Decreased by Indaba Capital Management L.P.
Indaba Capital Management L.P. decreased its holdings in WideOpenWest Inc (NYSE:WOW) by 41.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,069,090 shares of the company’s stock after selling 759,972 shares during the quarter. WideOpenWest comprises about 3.6% of Indaba Capital Management L.P.’s portfolio, making the stock its 11th biggest position. Indaba Capital Management L.P.’s holdings in WideOpenWest were worth $11,984,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of WOW. Crestview Partners III GP L.P. lifted its position in WideOpenWest by 4.9% during the 3rd quarter. Crestview Partners III GP L.P. now owns 28,768,176 shares of the company’s stock worth $322,491,000 after acquiring an additional 1,333,600 shares during the period. Private Management Group Inc. lifted its position in WideOpenWest by 16.2% during the 2nd quarter. Private Management Group Inc. now owns 2,579,661 shares of the company’s stock worth $24,920,000 after acquiring an additional 359,822 shares during the period. BlackRock Inc. lifted its position in WideOpenWest by 42.1% during the 2nd quarter. BlackRock Inc. now owns 1,745,982 shares of the company’s stock worth $16,866,000 after acquiring an additional 517,319 shares during the period. Millennium Management LLC lifted its position in WideOpenWest by 944.1% during the 2nd quarter. Millennium Management LLC now owns 636,139 shares of the company’s stock worth $6,145,000 after acquiring an additional 575,210 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in WideOpenWest by 7,767.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 488,343 shares of the company’s stock worth $5,474,000 after acquiring an additional 482,136 shares during the period. 59.89% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the company. ValuEngine cut WideOpenWest from a “hold” rating to a “sell” rating in a research report on Saturday, December 1st. B. Riley set a $16.00 price target on WideOpenWest and gave the stock a “buy” rating in a research report on Wednesday, November 28th. Credit Suisse Group lifted their price target on WideOpenWest from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Zacks Investment Research raised WideOpenWest from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Wednesday, August 15th. Finally, Raymond James reaffirmed a “buy” rating and set a $14.00 price target on shares of WideOpenWest in a research report on Monday, August 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.21.
WideOpenWest (NYSE:WOW) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.14. The business had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $292.65 million. WideOpenWest had a negative return on equity of 13.94% and a negative net margin of 5.41%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. Sell-side analysts expect that WideOpenWest Inc will post 1.05 earnings per share for the current year.
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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.
Further Reading: Closed-End Mutual Funds (CEFs)
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