Bank of New York Mellon Corp Raises Stock Position in WideOpenWest, Inc. (NYSE:WOW)

Bank of New York Mellon Corp grew its holdings in WideOpenWest, Inc. (NYSE:WOW) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 172,598 shares of the company’s stock after purchasing an additional 8,204 shares during the quarter. Bank of New York Mellon Corp’s holdings in WideOpenWest were worth $934,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WOW. LB Partners LLC lifted its holdings 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. Bares Capital Management Inc. raised its stake in shares of WideOpenWest by 20.5% in the first quarter. Bares Capital Management Inc. now owns 3,169,204 shares of the company’s stock valued at $11,473,000 after acquiring an additional 538,770 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of WideOpenWest by 29.0% in the fourth quarter. Gabelli Funds LLC now owns 821,931 shares of the company’s stock valued at $3,329,000 after acquiring an additional 184,900 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in WideOpenWest by 6.4% in the first quarter. Gamco Investors INC. ET AL now owns 1,333,157 shares of the company’s stock valued at $4,826,000 after purchasing an additional 80,060 shares during the period. Finally, CastleKnight Management LP grew its stake in WideOpenWest by 34.4% during the 4th quarter. CastleKnight Management LP now owns 236,600 shares of the company’s stock worth $958,000 after purchasing an additional 60,600 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WOW shares. Raymond James reaffirmed an “underperform” rating on shares of WideOpenWest in a research report on Tuesday, July 2nd. Benchmark reduced their target price on shares of WideOpenWest from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Monday, August 26th.

Insider Activity at WideOpenWest

In other WideOpenWest news, CEO Teresa L. Elder sold 20,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $8,345,966.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other WideOpenWest news, CEO Teresa L. Elder sold 20,000 shares of the company’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 in the company, valued at $8,345,966.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 276,413 shares in the company, valued at approximately $1,462,224.77. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $263,300 over the last three months. 4.00% of the stock is owned by corporate insiders.

WideOpenWest Stock Performance

Shares of WOW stock opened at $5.15 on Friday. The company has a market cap of $435.52 million, a P/E ratio of -1.58 and a beta of 1.49. The firm has a fifty day moving average price of $5.37 and a 200 day moving average price of $4.68. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 4.04. WideOpenWest, Inc. has a 12 month low of $2.31 and a 12 month high of $7.99.

WideOpenWest (NYSE:WOW) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $158.80 million during the quarter, compared to the consensus estimate of $159.14 million. During the same period in the previous year, the business earned ($0.01) EPS. WideOpenWest’s revenue for the quarter was down 8.0% on a year-over-year basis. Sell-side analysts predict that WideOpenWest, Inc. will post -0.61 earnings per share for the current fiscal 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.