Gabelli Funds LLC Buys 726,000 Shares of WideOpenWest, Inc. (NYSE:WOW)

Gabelli Funds LLC increased its stake in WideOpenWest, Inc. (NYSE:WOW) by 91.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,516,931 shares of the company’s stock after purchasing an additional 726,000 shares during the quarter. Gabelli Funds LLC owned 1.79% of WideOpenWest worth $8,207,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. LB Partners LLC boosted its stake in shares of WideOpenWest by 116.8% in 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 during the last quarter. Bares Capital Management Inc. boosted its position in WideOpenWest by 20.5% in the first quarter. Bares Capital Management Inc. now owns 3,169,204 shares of the company’s stock worth $11,473,000 after purchasing an additional 538,770 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of WideOpenWest by 6.4% during the 1st 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. CastleKnight Management LP increased its position in shares of WideOpenWest by 34.4% during the 4th quarter. CastleKnight Management LP now owns 236,600 shares of the company’s stock valued at $958,000 after purchasing an additional 60,600 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of WideOpenWest in the 2nd quarter worth approximately $324,000. Institutional investors own 87.77% of the company’s stock.

WideOpenWest Price Performance

Shares of NYSE:WOW opened at $5.18 on Tuesday. The firm has a market cap of $438.06 million, a price-to-earnings ratio of -1.59 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 $4.70. WideOpenWest, Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $7.99. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.62 and a current ratio of 0.62.

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

Insiders Place Their Bets

In other news, CEO Teresa L. Elder sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $5.23, for a total transaction of $104,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,595,787 shares in the company, valued at approximately $8,345,966.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Teresa L. Elder sold 20,000 shares of the business’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 sale, the chief executive officer now owns 1,595,787 shares in the company, valued at $8,345,966.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Don Schena sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The shares were 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 of the company’s stock, valued at approximately $1,462,224.77. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $263,300 in the last quarter. 4.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.