WideOpenWest (NYSE:WOW) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of WideOpenWest (NYSE:WOWGet Rating) from a sell rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “WideOpenWest, Inc. is a cable operator primarily in the United States. The company provides high-speed Internet, cable TV and phone serving communities. WideOpenWest, Inc.is based in Englewood, United States. “

Separately, B. Riley upped their price objective on shares of WideOpenWest from $28.00 to $29.00 in a research report on Friday, February 25th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, WideOpenWest has an average rating of Buy and an average target price of $24.57.

Shares of WOW traded up $0.74 during trading hours on Friday, hitting $18.49. The stock had a trading volume of 454,549 shares, compared to its average volume of 642,492. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.90. The firm has a 50-day moving average price of $19.23 and a 200 day moving average price of $19.37. WideOpenWest has a fifty-two week low of $15.29 and a fifty-two week high of $23.92. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 2.00 and a beta of 1.77.

WideOpenWest (NYSE:WOWGet Rating) last posted its earnings results on Monday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $174.60 million during the quarter, compared to analyst estimates of $172.90 million. WideOpenWest had a net margin of 83.12% and a negative return on equity of 12.36%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, analysts predict that WideOpenWest will post 0.53 EPS for the current fiscal year.

In related news, CEO Teresa L. Elder sold 15,000 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $20.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer now owns 1,421,066 shares of the company’s stock, valued at $28,421,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Teresa L. Elder sold 4,385 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $20.05, for a total transaction of $87,919.25. Following the completion of the sale, the chief executive officer now directly owns 1,416,681 shares of the company’s stock, valued at approximately $28,404,454.05. The disclosure for this sale can be found here. Insiders have sold 43,153 shares of company stock valued at $863,332 in the last ninety days. Insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its holdings in shares of WideOpenWest by 6.8% in the first quarter. Teacher Retirement System of Texas now owns 10,760 shares of the company’s stock valued at $188,000 after purchasing an additional 682 shares during the period. UBS Asset Management Americas Inc. grew its holdings in shares of WideOpenWest by 2.3% in the third quarter. UBS Asset Management Americas Inc. now owns 51,615 shares of the company’s stock valued at $1,014,000 after purchasing an additional 1,141 shares during the period. NEXT Financial Group Inc purchased a new position in WideOpenWest during the fourth quarter worth about $25,000. California State Teachers Retirement System increased its position in shares of WideOpenWest by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 72,431 shares of the company’s stock valued at $1,559,000 after acquiring an additional 1,341 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of WideOpenWest in the 4th quarter valued at approximately $37,000. 85.61% of the stock is owned by hedge funds and other institutional investors.

About WideOpenWest (Get Rating)

WideOpenWest, Inc provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. Its video services include basic cable services that comprise local broadcast television and local community programming; digital cable services; WOW tv+ that offers traditional cable video and cloud DVR functionality, voice remote with Google Assistant, and Netflix integration along with access to various streaming services and apps through the Google Play Store; and ultra-video products, as well as offers commercial-free movies, TV shows, sports, and other special event entertainment programs.

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