Windstream Holdings Inc (NYSE:WIN) Shares Gap Up After Insider Buying Activity
Windstream Holdings Inc (NYSE:WIN) shares gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $1.98, but opened at $2.04. Windstream Holdings shares last traded at $2.11, with a volume of 6,205,124 shares.
Specifically, Director Alan L. Wells purchased 68,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price of $2.10 per share, for a total transaction of $142,800.00. Following the purchase, the director now owns 157,971 shares of the company’s stock, valued at $331,739.10. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have issued reports on WIN. Jefferies Group LLC reiterated a “hold” rating and set a $2.50 price target (down previously from $5.00) on shares of Windstream Holdings in a research note on Wednesday. Zacks Investment Research upgraded Windstream Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank AG cut their price target on Windstream Holdings from $7.00 to $3.00 and set a “hold” rating for the company in a research note on Tuesday. Bank of America Corporation downgraded Windstream Holdings from a “buy” rating to an “underperform” rating and cut their price target for the company from $8.00 to $3.00 in a research note on Friday, August 4th. Finally, Citigroup Inc. cut their price target on Windstream Holdings from $5.25 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $5.30.
The firm has a 50-day moving average price of $3.64 and a 200 day moving average price of $5.32. The firm’s market cap is $402.65 million.
Windstream Holdings (NYSE:WIN) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.08. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company earned $0.01 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts forecast that Windstream Holdings Inc will post ($1.88) earnings per share for the current fiscal year.
Windstream Holdings announced that its board has approved a share buyback plan on Thursday, August 3rd that permits the company to buyback $90.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 19.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
Several large investors have recently bought and sold shares of WIN. Paragon Capital Management Ltd purchased a new stake in Windstream Holdings during the first quarter worth approximately $245,000. Russell Investments Group Ltd. purchased a new stake in Windstream Holdings during the fourth quarter worth approximately $120,000. Fox Run Management L.L.C. purchased a new stake in Windstream Holdings during the first quarter worth approximately $105,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Windstream Holdings during the first quarter worth approximately $114,000. Finally, Stevens Capital Management LP purchased a new stake in Windstream Holdings during the first quarter worth approximately $117,000.
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Windstream Holdings Company Profile
Windstream Holdings, Inc provides network communications and technology solutions in the United States. Its ILEC Consumer and Small Business segment offers consumer services, including high-speed Internet access; Internet security services; online backup services; basic local telephone services and long-distance services, as well as call waiting, caller identification, call forwarding, and other services; and video services, as well as owns and operates cable television franchises, and sells and leases equipment to support its consumer high-speed Internet and voice services.
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