WideOpenWest (NYSE:WOW) Price Target Cut to $7.50

WideOpenWest (NYSE:WOW) had its price objective decreased by equities researchers at Benchmark from $8.00 to $7.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 32.98% from the stock’s previous close.

Separately, Raymond James restated an “underperform” rating on shares of WideOpenWest in a research report on Tuesday, July 2nd.

WideOpenWest Stock Performance

Shares of WOW stock traded up $0.02 during trading hours on Monday, hitting $5.64. 67,556 shares of the company were exchanged, compared to its average volume of 610,502. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 4.04. The stock has a market capitalization of $476.96 million, a price-to-earnings ratio of -1.73 and a beta of 1.53. The firm has a fifty day simple moving average of $5.25 and a 200 day simple moving average of $4.45. WideOpenWest has a 52-week low of $2.31 and a 52-week high of $8.28.

WideOpenWest (NYSE:WOW) last posted its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. WideOpenWest had a negative return on equity of 12.57% and a negative net margin of 26.25%. The firm had revenue of $158.80 million for the quarter, compared to the consensus estimate of $159.14 million. During the same quarter in the prior year, the business posted ($0.01) earnings per share. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Research analysts predict that WideOpenWest will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WideOpenWest news, insider Don Schena sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $5.29, for a total value of $52,900.00. Following the sale, the insider now owns 276,413 shares of the company’s stock, valued at approximately $1,462,224.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other WideOpenWest news, insider Don Schena sold 10,000 shares of the business’s stock in a transaction that occurred 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 owns 276,413 shares of the company’s stock, valued at approximately $1,462,224.77. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Teresa L. Elder sold 20,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $5.23, for a total transaction of $104,600.00. Following the sale, the chief executive officer now owns 1,595,787 shares in the company, valued at approximately $8,345,966.01. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $263,300 over the last ninety days. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WideOpenWest

A number of institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new position in shares of WideOpenWest in the second quarter worth about $25,000. Tower Research Capital LLC TRC grew its position in WideOpenWest by 655.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,669 shares of the company’s stock worth $51,000 after acquiring an additional 10,991 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in WideOpenWest by 23.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,616 shares of the company’s stock worth $53,000 after purchasing an additional 2,732 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in WideOpenWest by 44.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,343 shares of the company’s stock valued at $62,000 after purchasing an additional 4,704 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of WideOpenWest during the first quarter valued at approximately $72,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.