Windstream Holdings Inc (WIN) Bonds Drop 1.9% During Trading
An issue of Windstream Holdings Inc (NYSE:WIN) debt fell 1.9% as a percentage of its face value during trading on Wednesday. The high-yield issue of debt has a 7.5% coupon and will mature on June 1, 2022. The bonds in the issue are now trading at $72.47 and were trading at $68.31 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
Several equities analysts have issued reports on WIN shares. Morgan Stanley restated an “equal weight” rating and issued a $2.40 price target (down from $5.00) on shares of Windstream Holdings in a research report on Wednesday, August 23rd. Jefferies Group LLC restated a “hold” rating and issued a $2.50 price target on shares of Windstream Holdings in a research report on Thursday, September 7th. Zacks Investment Research upgraded shares of Windstream Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Deutsche Bank AG decreased their price target on shares of Windstream Holdings from $7.00 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, August 8th. Finally, Citigroup Inc. decreased their price target on shares of Windstream Holdings from $5.25 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, July 13th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Windstream Holdings has a consensus rating of “Hold” and a consensus target price of $4.27.
Windstream Holdings Inc (WIN) opened at 2.08 on Friday. Windstream Holdings Inc has a 12 month low of $1.73 and a 12 month high of $9.30. The firm’s market capitalization is $396.92 million. The firm has a 50-day moving average of $1.99 and a 200 day moving average of $3.83.
Windstream Holdings (NYSE:WIN) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.08. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. Equities research analysts forecast that Windstream Holdings Inc will post ($2.06) earnings per share for the current year.
Windstream Holdings declared that its Board of Directors has approved a stock repurchase program on Thursday, August 3rd that permits the company to repurchase $90.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 19.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Anthony W. Thomas bought 25,381 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $1.97 per share, with a total value of $50,000.57. Following the completion of the purchase, the director now directly owns 637,006 shares in the company, valued at $1,254,901.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan L. Wells bought 68,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $2.10 per share, for a total transaction of $142,800.00. Following the completion of the purchase, the director now owns 157,971 shares of the company’s stock, valued at $331,739.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 95,381 shares of company stock worth $196,901.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Windstream Holdings in the first quarter worth $114,000. Great West Life Assurance Co. Can increased its stake in shares of Windstream Holdings by 142.8% in the first quarter. Great West Life Assurance Co. Can now owns 21,720 shares of the company’s stock worth $118,000 after buying an additional 12,774 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Windstream Holdings in the first quarter worth $120,000. Amalgamated Bank increased its stake in shares of Windstream Holdings by 87.7% in the first quarter. Amalgamated Bank now owns 22,566 shares of the company’s stock worth $123,000 after buying an additional 10,541 shares during the period. Finally, United Capital Financial Advisers LLC increased its stake in shares of Windstream Holdings by 0.5% in the first quarter. United Capital Financial Advisers LLC now owns 22,981 shares of the company’s stock worth $125,000 after buying an additional 110 shares during the period.
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About Windstream Holdings
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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