WideOpenWest (NYSE:WOW) Lowered to “Market Perform” at Raymond James

Raymond James cut shares of WideOpenWest (NYSE:WOW) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, MarketBeat reports.

Separately, Benchmark restated a buy rating and issued a $8.00 price target on shares of WideOpenWest in a report on Thursday, March 14th.

WideOpenWest Stock Performance

Shares of WOW stock opened at $4.66 on Wednesday. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.65 and a quick ratio of 0.65. The company’s fifty day moving average price is $3.60 and its two-hundred day moving average price is $4.02. The firm has a market capitalization of $387.81 million, a P/E ratio of -1.31 and a beta of 1.39. WideOpenWest has a 12 month low of $2.31 and a 12 month high of $9.06.

WideOpenWest (NYSE:WOW) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The business had revenue of $161.50 million during the quarter, compared to analyst estimates of $161.40 million. WideOpenWest had a negative return on equity of 12.32% and a negative net margin of 41.90%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.46) EPS. On average, research analysts anticipate that WideOpenWest will post -0.6 earnings per share for the current fiscal year.

Insider Activity at WideOpenWest

In other news, insider Don Schena sold 10,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $5.00, for a total value of $50,000.00. Following the completion of the transaction, the insider now directly owns 286,413 shares in the company, valued at $1,432,065. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Teresa L. Elder sold 19,111 shares of WideOpenWest stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $5.00, for a total value of $95,555.00. Following the completion of the sale, the chief executive officer now owns 1,636,676 shares in the company, valued at $8,183,380. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Don Schena sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $5.00, for a total value of $50,000.00. Following the sale, the insider now owns 286,413 shares in the company, valued at approximately $1,432,065. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,000 shares of company stock worth $150,009. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LB Partners LLC lifted its stake in WideOpenWest by 116.8% in the first quarter. LB Partners LLC now owns 6,451,151 shares of the company’s stock valued at $23,353,000 after buying an additional 3,475,190 shares during the last quarter. Alberta Investment Management Corp increased its stake in shares of WideOpenWest by 26.9% in the third quarter. Alberta Investment Management Corp now owns 3,228,860 shares of the company’s stock valued at $24,701,000 after purchasing an additional 684,699 shares during the period. Private Management Group Inc. raised its holdings in shares of WideOpenWest by 126.9% during the fourth quarter. Private Management Group Inc. now owns 997,008 shares of the company’s stock valued at $4,038,000 after buying an additional 557,653 shares during the last quarter. Heartland Advisors Inc. grew its holdings in WideOpenWest by 97.0% in the 3rd quarter. Heartland Advisors Inc. now owns 1,004,150 shares of the company’s stock worth $7,682,000 after buying an additional 494,300 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new stake in WideOpenWest in the 4th quarter valued at approximately $1,718,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

About WideOpenWest

WideOpenWest, Inc provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. The company's 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 commercial-free movies, TV shows, sports, and other special event entertainment programs.