Windstream (WIN) Debt Trading 1.5% Higher
An issue of Windstream Holdings Inc (NASDAQ:WIN) bonds rose 1.5% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 9% coupon and will mature on June 30, 2025. The bonds in the issue are now trading at $71.00 and were trading at $71.00 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its share price.
WIN has been the topic of several recent analyst reports. Zacks Investment Research upgraded Windstream from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Thursday, July 19th. Cowen reiterated a “buy” rating and set a $8.00 target price on shares of Windstream in a research note on Friday, August 10th. Bank of America lowered their target price on Windstream from $7.50 to $4.50 and set an “underperform” rating on the stock in a research note on Monday, August 13th. ValuEngine upgraded Windstream from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Finally, Morgan Stanley lifted their target price on Windstream from $2.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 29th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Windstream currently has an average rating of “Hold” and a consensus target price of $4.98.
Shares of NASDAQ WIN traded up $0.12 during mid-day trading on Thursday, reaching $4.41. 20,761 shares of the company’s stock were exchanged, compared to its average volume of 739,886. The stock has a market capitalization of $176.90 million, a price-to-earnings ratio of -0.54 and a beta of -0.05. Windstream Holdings Inc has a 52 week low of $3.03 and a 52 week high of $13.65. The company has a debt-to-equity ratio of -7.40, a current ratio of 0.70 and a quick ratio of 0.63.
A number of institutional investors and hedge funds have recently made changes to their positions in WIN. JPMorgan Chase & Co. increased its holdings in Windstream by 1,151.7% in the 1st quarter. JPMorgan Chase & Co. now owns 6,228,135 shares of the technology company’s stock worth $8,781,000 after acquiring an additional 5,730,564 shares during the last quarter. Tibra Equities Europe Ltd purchased a new position in shares of Windstream during the first quarter worth about $819,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Windstream by 19.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,029,154 shares of the technology company’s stock worth $2,862,000 after purchasing an additional 326,356 shares in the last quarter. KBC Group NV purchased a new position in shares of Windstream during the first quarter worth about $409,000. Finally, Algert Global LLC purchased a new position in shares of Windstream during the second quarter worth about $1,086,000. 60.37% of the stock is owned by institutional investors.
Windstream Company Profile (NASDAQ:WIN)
Windstream Holdings, Inc provides network communications and technology solutions in the United States. Its Consumer & Small Business segment offers services, including traditional local and long-distance voice services, and high-speed Internet services; and value-added services, such as security and online back-up.
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