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

WideOpenWest (NYSE:WOW) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, MarketBeat Ratings reports.

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

WideOpenWest Stock Up 0.4 %

Shares of NYSE:WOW opened at $4.67 on Wednesday. The firm has a market capitalization of $389.08 million, a PE ratio of -1.43 and a beta of 1.39. The business has a 50 day simple moving average of $3.62 and a two-hundred day simple moving average of $4.03. WideOpenWest has a 1 year low of $2.31 and a 1 year high of $9.06. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.65 and a quick ratio of 0.65.

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

Insider Buying and Selling at WideOpenWest

In other news, insider Don Schena sold 10,000 shares of the 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 transaction, the insider now owns 286,413 shares of the company’s stock, valued at approximately $1,432,065. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 completion of the sale, the insider now owns 286,413 shares of the company’s stock, valued at approximately $1,432,065. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Teresa L. Elder sold 19,111 shares of WideOpenWest stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,636,676 shares in the company, valued at $8,183,380. The disclosure for this sale can be found here. Insiders sold a total of 30,000 shares of company stock valued at $150,009 in the last ninety days. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On WideOpenWest

A number of hedge funds have recently made changes to their positions in WOW. SG Americas Securities LLC purchased a new stake in shares of WideOpenWest during the third quarter valued at about $182,000. Raymond James & Associates lifted its position in WideOpenWest by 8.8% during the third quarter. Raymond James & Associates now owns 42,038 shares of the company’s stock valued at $322,000 after acquiring an additional 3,397 shares during the last quarter. Private Management Group Inc. lifted its position in WideOpenWest by 63.2% during the third quarter. Private Management Group Inc. now owns 439,355 shares of the company’s stock valued at $3,361,000 after acquiring an additional 170,105 shares during the last quarter. Barclays PLC boosted its stake in WideOpenWest by 177.0% in the third quarter. Barclays PLC now owns 96,269 shares of the company’s stock valued at $737,000 after acquiring an additional 61,512 shares in the last quarter. Finally, Heartland Advisors Inc. grew its holdings in WideOpenWest by 97.0% in the third quarter. Heartland Advisors Inc. now owns 1,004,150 shares of the company’s stock worth $7,682,000 after purchasing an additional 494,300 shares during the last quarter. 87.77% of the stock is currently 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.