WideOpenWest (NYSE:WOW) Price Target Lowered to $7.50 at Benchmark

WideOpenWest (NYSE:WOW) had its price objective reduced by Benchmark from $8.00 to $7.50 in a research report report published on Monday, Benzinga reports. Benchmark currently has a buy rating on the stock.

Separately, Raymond James reiterated an underperform rating on shares of WideOpenWest in a research note on Tuesday, July 2nd.

WideOpenWest Stock Up 3.3 %

WOW stock opened at $5.72 on Monday. WideOpenWest has a twelve month low of $2.31 and a twelve month high of $8.28. The company has a market cap of $484.00 million, a PE ratio of -1.75 and a beta of 1.53. The business’s 50-day simple moving average is $5.30 and its 200 day simple moving average is $4.50. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 4.04.

WideOpenWest (NYSE:WOW) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $158.80 million for the quarter, compared to the consensus estimate of $159.14 million. WideOpenWest had a negative return on equity of 12.57% and a negative net margin of 26.25%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. On average, research analysts anticipate that WideOpenWest will post -0.61 earnings per share for the current year.

Insider Activity

In other news, CEO Teresa L. Elder sold 20,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $5.23, for a total value of $104,600.00. Following the completion of the transaction, the chief executive officer now owns 1,595,787 shares of the company’s stock, valued at approximately $8,345,966.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Don Schena sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $5.29, for a total value of $52,900.00. Following the completion of the transaction, the insider now directly owns 276,413 shares of the company’s stock, valued at approximately $1,462,224.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Teresa L. Elder sold 20,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $5.23, for a total transaction of $104,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,595,787 shares of the company’s stock, valued at $8,345,966.01. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $263,300 in the last quarter. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On WideOpenWest

Several institutional investors and hedge funds have recently added to or reduced their stakes in WOW. LB Partners LLC lifted its position in WideOpenWest by 116.8% during the 1st quarter. LB Partners LLC now owns 6,451,151 shares of the company’s stock worth $23,353,000 after buying an additional 3,475,190 shares in the last quarter. Gabelli Funds LLC lifted its position in WideOpenWest by 91.8% during the 2nd quarter. Gabelli Funds LLC now owns 1,516,931 shares of the company’s stock worth $8,207,000 after buying an additional 726,000 shares in the last quarter. Bares Capital Management Inc. lifted its position in WideOpenWest by 20.5% during the 1st quarter. Bares Capital Management Inc. now owns 3,169,204 shares of the company’s stock worth $11,473,000 after buying an additional 538,770 shares in the last quarter. Luxor Capital Group LP lifted its position in WideOpenWest by 583.4% during the 2nd quarter. Luxor Capital Group LP now owns 431,670 shares of the company’s stock worth $2,335,000 after buying an additional 368,508 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in WideOpenWest during the 2nd quarter worth about $546,000. 87.77% of the stock is owned by institutional investors.

WideOpenWest Company Profile

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.