WideOpenWest (WOW) Trading 8% Higher After Insider Buying Activity
WideOpenWest Inc (NYSE:WOW) traded up 8% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $9.19 and last traded at $9.18. 786,959 shares traded hands during trading, an increase of 163% from the average session volume of 299,766 shares. The stock had previously closed at $8.50.
Specifically, CEO Teresa L. Elder purchased 6,265 shares of the stock in a transaction dated Tuesday, March 12th. The shares were bought at an average cost of $7.97 per share, with a total value of $49,932.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Crestview Partners Iii Gp, L.P purchased 193,108 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $8.19 per share, for a total transaction of $1,581,554.52. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.
Several equities research analysts have recently issued reports on the company. B. Riley set a $16.00 price target on WideOpenWest and gave the company a “buy” rating in a research report on Wednesday, November 28th. ValuEngine downgraded WideOpenWest from a “hold” rating to a “sell” rating in a research report on Saturday, December 1st. Credit Suisse Group lowered their price target on WideOpenWest from $11.50 to $9.50 and set a “neutral” rating on the stock in a research report on Friday, March 8th. Finally, Zacks Investment Research raised WideOpenWest from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Saturday, January 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $13.42.
WideOpenWest (NYSE:WOW) last released its earnings results on Thursday, March 7th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The firm had revenue of $285.40 million for the quarter, compared to analyst estimates of $292.53 million. WideOpenWest had a negative return on equity of 24.96% and a negative net margin of 11.33%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. As a group, equities analysts forecast that WideOpenWest Inc will post 0.69 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in WideOpenWest during the third quarter worth about $2,263,000. JPMorgan Chase & Co. lifted its stake in WideOpenWest by 7,767.6% during the third quarter. JPMorgan Chase & Co. now owns 488,343 shares of the company’s stock worth $5,474,000 after purchasing an additional 482,136 shares during the period. G&S Capital LLC bought a new position in WideOpenWest during the fourth quarter worth about $311,000. MetLife Investment Advisors LLC lifted its stake in WideOpenWest by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 23,872 shares of the company’s stock worth $268,000 after purchasing an additional 8,486 shares during the period. Finally, Prudential Financial Inc. lifted its stake in WideOpenWest by 196.3% during the third quarter. Prudential Financial Inc. now owns 107,669 shares of the company’s stock worth $1,207,000 after purchasing an additional 71,332 shares during the period. Hedge funds and other institutional investors own 60.81% of the company’s stock.
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WideOpenWest Company Profile (NYSE:WOW)
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.
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