WideOpenWest (NYSE:WOW) Stock Rating Lowered by Raymond James

WideOpenWest (NYSE:WOW) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports.

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

WideOpenWest Trading Down 4.1 %

Shares of WOW stock opened at $4.64 on Wednesday. WideOpenWest has a 12-month low of $2.31 and a 12-month high of $9.06. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.55. The firm’s 50 day moving average is $3.59 and its 200 day moving average is $4.02. The stock has a market capitalization of $386.56 million, a P/E ratio of -1.31 and a beta of 1.39.

WideOpenWest (NYSE:WOW) last issued its earnings results on Wednesday, March 13th. The company reported ($0.08) earnings per share (EPS) for the quarter. WideOpenWest had a negative return on equity of 12.32% and a negative net margin of 41.90%. The company had revenue of $168.80 million during the quarter, compared to analysts’ expectations of $171.13 million. Research analysts expect that WideOpenWest will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On WideOpenWest

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in shares of WideOpenWest in the 1st quarter worth $134,000. LB Partners LLC grew its stake in shares of WideOpenWest by 116.8% in 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. BNP Paribas Financial Markets grew its stake in shares of WideOpenWest by 33.3% in the 1st quarter. BNP Paribas Financial Markets now owns 54,088 shares of the company’s stock worth $196,000 after buying an additional 13,505 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of WideOpenWest in the 4th quarter worth $73,000. Finally, Readystate Asset Management LP purchased a new position in shares of WideOpenWest in the 4th quarter worth $1,718,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.