Raymond James Downgrades WideOpenWest (NYSE:WOW) to Market Perform

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

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

WideOpenWest Stock Up 0.3 %

WideOpenWest stock opened at $4.66 on Wednesday. The company’s 50-day moving average price is $3.60 and its two-hundred day moving average price is $4.02. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 3.55. The stock has a market cap of $387.81 million, a P/E ratio of -1.31 and a beta of 1.39. WideOpenWest has a twelve month low of $2.31 and a twelve month high of $9.06.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in WideOpenWest in the 1st quarter valued at approximately $134,000. LB Partners LLC increased its holdings 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 purchasing an additional 3,475,190 shares during the period. BNP Paribas Financial Markets raised its position in WideOpenWest by 33.3% during the 1st quarter. BNP Paribas Financial Markets now owns 54,088 shares of the company’s stock worth $196,000 after purchasing an additional 13,505 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in WideOpenWest during the 4th quarter worth about $73,000. Finally, Readystate Asset Management LP bought a new stake in shares of WideOpenWest in the 4th quarter valued at about $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.