Panagora Asset Management Inc. Invests $324,000 in WideOpenWest, Inc. (NYSE:WOW)

Panagora Asset Management Inc. bought a new position in shares of WideOpenWest, Inc. (NYSE:WOW) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 59,954 shares of the company’s stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of WideOpenWest by 23.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,616 shares of the company’s stock worth $53,000 after buying an additional 2,732 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in WideOpenWest by 44.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,343 shares of the company’s stock worth $62,000 after acquiring an additional 4,704 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in WideOpenWest in the first quarter valued at $72,000. HighPoint Advisor Group LLC acquired a new position in WideOpenWest in the fourth quarter valued at $73,000. Finally, Quadrature Capital Ltd purchased a new position in shares of WideOpenWest during the first quarter worth about $79,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Don Schena sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $5.29, for a total transaction of $52,900.00. Following the completion of the sale, the insider now directly owns 276,413 shares of the company’s stock, valued at $1,462,224.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Teresa L. Elder sold 20,000 shares of WideOpenWest stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $5.29, for a total value of $105,800.00. Following the sale, the chief executive officer now owns 1,575,787 shares of the company’s stock, valued at $8,335,913.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Don Schena sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $5.29, for a total transaction of $52,900.00. Following the transaction, the insider now owns 276,413 shares in the company, valued at $1,462,224.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock valued at $263,300. Company insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

WOW has been the subject of several research reports. Raymond James reissued an “underperform” rating on shares of WideOpenWest in a report on Tuesday, July 2nd. Benchmark reduced their price objective on WideOpenWest from $8.00 to $7.50 and set a “buy” rating for the company in a research note on Monday, August 26th.

WideOpenWest Trading Down 1.1 %

NYSE WOW opened at $5.46 on Wednesday. The firm’s fifty day moving average is $5.32 and its two-hundred day moving average is $4.55. WideOpenWest, Inc. has a one year low of $2.31 and a one year high of $8.24. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $462.41 million, a PE ratio of -1.67 and a beta of 1.49.

WideOpenWest (NYSE:WOW) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $159.14 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Analysts expect that WideOpenWest, Inc. will post -0.61 earnings per share for the current year.

WideOpenWest 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.