Windstream Holdings Inc (WIN) Debt Trading 4.8% Lower
An issue of Windstream Holdings Inc (NYSE:WIN) bonds fell 4.8% against their face value during trading on Wednesday. The high-yield issue of debt has a 7.75% coupon and will mature on October 15, 2020. The bonds in the issue are now trading at $80.66 and were trading at $86.81 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.
Several research firms recently commented on WIN. Jefferies Group LLC reiterated a “hold” rating and set a $2.50 target price on shares of Windstream Holdings in a research note on Thursday, September 7th. Morgan Stanley reiterated an “equal weight” rating and set a $2.40 target price (down from $5.00) on shares of Windstream Holdings in a research note on Wednesday, August 23rd. UBS AG reiterated a “sell” rating and set a $2.00 target price (down from $4.00) on shares of Windstream Holdings in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Windstream Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Deutsche Bank AG cut their target price on shares of Windstream Holdings from $7.00 to $3.00 and set a “hold” rating for the company in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.65.
Shares of Windstream Holdings Inc (WIN) traded down 0.51% during trading on Wednesday, hitting $1.94. 4,451,387 shares of the stock were exchanged. Windstream Holdings Inc has a 1-year low of $1.87 and a 1-year high of $10.46. The firm’s 50-day moving average is $2.15 and its 200 day moving average is $4.19. The company’s market cap is $370.21 million.
Windstream Holdings (NYSE:WIN) last announced its earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.08. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. Equities analysts forecast that Windstream Holdings Inc will post ($2.06) earnings per share for the current fiscal year.
Windstream Holdings declared that its board has approved a share buyback plan on Thursday, August 3rd that authorizes the company to repurchase $90.00 million in shares. This repurchase authorization authorizes the company to buy up to 19.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Alan L. Wells purchased 68,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average price of $2.10 per share, with a total value of $142,800.00. Following the completion of the purchase, the director now directly owns 157,971 shares in the company, valued at $331,739.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony W. Thomas purchased 25,381 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $1.97 per share, with a total value of $50,000.57. Following the purchase, the director now owns 637,006 shares of the company’s stock, valued at $1,254,901.82. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 95,381 shares of company stock valued at $196,901.
A number of hedge funds have recently bought and sold shares of WIN. Lapides Asset Management LLC raised its stake in Windstream Holdings by 45.5% in the second quarter. Lapides Asset Management LLC now owns 26,232 shares of the company’s stock valued at $102,000 after purchasing an additional 8,200 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Windstream Holdings in the first quarter valued at about $114,000. Cubist Systematic Strategies LLC raised its stake in Windstream Holdings by 175.5% in the second quarter. Cubist Systematic Strategies LLC now owns 29,780 shares of the company’s stock valued at $116,000 after purchasing an additional 18,969 shares in the last quarter. Stevens Capital Management LP acquired a new position in Windstream Holdings in the first quarter valued at about $117,000. Finally, Great West Life Assurance Co. Can raised its stake in 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 valued at $118,000 after purchasing an additional 12,774 shares in the last quarter.
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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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