SG Americas Securities LLC boosted its holdings in Cincinnati Bell Inc. (NYSE:CBB) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,973 shares of the utilities provider’s stock after purchasing an additional 9,516 shares during the quarter. SG Americas Securities LLC owned about 0.20% of Cincinnati Bell worth $1,611,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CBB. Russell Investments Group Ltd. purchased a new position in shares of Cincinnati Bell in the 3rd quarter worth about $127,000. Piedmont Investment Advisors LLC purchased a new position in shares of Cincinnati Bell in the 2nd quarter worth about $155,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Cincinnati Bell by 31.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,448 shares of the utilities provider’s stock worth $290,000 after buying an additional 4,449 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of Cincinnati Bell by 48.5% in the 2nd quarter. Aperio Group LLC now owns 19,741 shares of the utilities provider’s stock worth $310,000 after buying an additional 6,448 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Cincinnati Bell in the 3rd quarter worth about $337,000. 90.88% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of Cincinnati Bell from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Wells Fargo & Co boosted their price target on shares of Cincinnati Bell to $15.00 and gave the stock an “outperform” rating in a report on Thursday, September 6th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Cincinnati Bell currently has an average rating of “Hold” and a consensus price target of $16.33.
Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings data on Thursday, November 8th. The utilities provider reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.01. The firm had revenue of $386.70 million during the quarter, compared to the consensus estimate of $390.20 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The company’s revenue was up 51.4% on a year-over-year basis. As a group, analysts predict that Cincinnati Bell Inc. will post -0.83 earnings per share for the current fiscal year.
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Cincinnati Bell Profile
Cincinnati Bell Inc, together with its subsidiaries, provides diversified telecommunications and technology services to residential and business customers in the United States. It operates in two segments, Entertainment and Communications, and IT Services and Hardware. The Entertainment and Communications segment offers data services, including high-speed Internet access, data transport, and interconnection services, as well as metro-Ethernet products; and voice local services, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.
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