WideOpenWest, Inc. (NYSE:WOW) Sees Significant Drop in Short Interest

WideOpenWest, Inc. (NYSE:WOW) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 339,434 shares, a decrease of 88.6% from the December 15th total of 2,970,754 shares. Based on an average trading volume of 684,913 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.4% of the shares of the stock are short sold. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 684,913 shares, the days-to-cover ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of WideOpenWest in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $5.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WOW. Empowered Funds LLC raised its holdings in shares of WideOpenWest by 119.8% during the 1st quarter. Empowered Funds LLC now owns 96,638 shares of the company’s stock valued at $478,000 after buying an additional 52,669 shares during the period. Strs Ohio purchased a new stake in shares of WideOpenWest during the first quarter valued at approximately $233,000. Paragon Capital Management Ltd lifted its position in shares of WideOpenWest by 6.0% during the second quarter. Paragon Capital Management Ltd now owns 1,305,912 shares of the company’s stock worth $5,302,000 after purchasing an additional 73,901 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of WideOpenWest by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 155,998 shares of the company’s stock valued at $633,000 after purchasing an additional 3,358 shares during the period. Finally, FNY Investment Advisers LLC grew its holdings in WideOpenWest by 60.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 8,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

WideOpenWest Trading Up 0.3%

Shares of NYSE:WOW traded up $0.02 during trading on Monday, reaching $5.22. 573,270 shares of the stock were exchanged, compared to its average volume of 543,734. The firm’s 50-day moving average price is $5.18 and its 200 day moving average price is $4.84. The firm has a market cap of $447.01 million, a price-to-earnings ratio of -5.49 and a beta of 0.82. WideOpenWest has a 12-month low of $3.06 and a 12-month high of $5.33. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.58 and a current ratio of 0.58.

WideOpenWest (NYSE:WOW) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.23). WideOpenWest had a negative net margin of 13.20% and a negative return on equity of 42.52%. The business had revenue of $144.00 million for the quarter, compared to analyst estimates of $144.06 million. On average, sell-side analysts anticipate that WideOpenWest will post -0.72 earnings per share for the current fiscal year.

WideOpenWest Company Profile

WideOpenWest Inc (NYSE: WOW) is a broadband communications company that delivers internet, video and voice services to residential and business customers in the United States. Operating under the WOW! brand, the company focuses on high-speed internet access, digital cable programming and VoIP phone services, targeting both urban and suburban markets with bundled offerings designed to meet varying connectivity needs.

Founded in 1996, WideOpenWest has grown through a combination of organic expansion and strategic acquisitions.