WideOpenWest (NYSE:WOW) Stock Passes Below Fifty Day Moving Average of $5.37

WideOpenWest, Inc. (NYSE:WOW)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.37 and traded as low as $5.24. WideOpenWest shares last traded at $5.24, with a volume of 349,533 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WOW shares. Benchmark decreased their price target 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. Raymond James reiterated an “underperform” rating on shares of WideOpenWest in a report on Tuesday, July 2nd.

WideOpenWest Price Performance

The stock has a market cap of $443.13 million, a PE ratio of -1.61 and a beta of 1.49. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 4.04. The company’s fifty day moving average is $5.37 and its 200 day moving average is $4.66.

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

Insider Transactions at WideOpenWest

In related news, CEO Teresa L. Elder sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $5.23, for a total transaction of $104,600.00. Following the sale, the chief executive officer now directly owns 1,595,787 shares in the company, valued at approximately $8,345,966.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Don Schena sold 10,000 shares of the company’s stock in a transaction 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 directly owns 276,413 shares in the company, valued at $1,462,224.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owns 1,595,787 shares of the company’s stock, valued at $8,345,966.01. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $263,300 over the last quarter. 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 added to or reduced their stakes in the company. LB Partners LLC lifted its stake in shares of WideOpenWest by 2.1% in the second quarter. LB Partners LLC now owns 6,587,126 shares of the company’s stock worth $35,636,000 after acquiring an additional 135,975 shares in the last quarter. Alberta Investment Management Corp increased its holdings in WideOpenWest by 1.5% during the 4th quarter. Alberta Investment Management Corp now owns 3,276,632 shares of the company’s stock worth $13,270,000 after purchasing an additional 47,772 shares during the last quarter. Bares Capital Management Inc. raised its position in shares of WideOpenWest by 20.5% in the 1st quarter. Bares Capital Management Inc. now owns 3,169,204 shares of the company’s stock valued at $11,473,000 after purchasing an additional 538,770 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of WideOpenWest by 91.8% during the 2nd quarter. Gabelli Funds LLC now owns 1,516,931 shares of the company’s stock valued at $8,207,000 after buying an additional 726,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of WideOpenWest by 6.4% during the first quarter. Gamco Investors INC. ET AL now owns 1,333,157 shares of the company’s stock worth $4,826,000 after buying an additional 80,060 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.