Capstone Asset Management Co. Sells 1,600 Shares of Cincinnati Bell Inc. (CBB)
Capstone Asset Management Co. cut its stake in Cincinnati Bell Inc. (NYSE:CBB) by 2.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 53,480 shares of the company’s stock after selling 1,600 shares during the period. Capstone Asset Management Co. owned approximately 0.13% of Cincinnati Bell worth $218,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. First Allied Advisory Services Inc. purchased a new stake in shares of Cincinnati Bell during the second quarter valued at $103,000. Guggenheim Capital LLC boosted its stake in Cincinnati Bell by 9.7% in the second quarter. Guggenheim Capital LLC now owns 23,553 shares of the company’s stock worth $108,000 after buying an additional 2,088 shares in the last quarter. Amalgamated Bank boosted its stake in Cincinnati Bell by 11.2% in the second quarter. Amalgamated Bank now owns 25,038 shares of the company’s stock worth $117,000 after buying an additional 2,513 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Cincinnati Bell by 13.1% in the second quarter. Teacher Retirement System of Texas now owns 26,286 shares of the company’s stock worth $120,000 after buying an additional 3,035 shares in the last quarter. Finally, PineBridge Investments L.P. boosted its stake in Cincinnati Bell by 6.0% in the second quarter. PineBridge Investments L.P. now owns 26,640 shares of the company’s stock worth $121,000 after buying an additional 1,518 shares in the last quarter. 79.60% of the stock is currently owned by institutional investors.
Cincinnati Bell Inc. (NYSE:CBB) traded down 0.10% on Wednesday, reaching $19.50. The company’s stock had a trading volume of 343,697 shares. Cincinnati Bell Inc. has a 1-year low of $14.00 and a 1-year high of $25.65. The firm’s 50 day moving average price is $20.45 and its 200-day moving average price is $20.87. The company has a market capitalization of $819.66 million, a price-to-earnings ratio of 4.41 and a beta of 1.60.
Cincinnati Bell (NYSE:CBB) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.35. The firm earned $299 million during the quarter, compared to analyst estimates of $295.79 million. Cincinnati Bell had a negative return on equity of 5.73% and a net margin of 16.78%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 EPS. Equities analysts forecast that Cincinnati Bell Inc. will post $0.30 earnings per share for the current year.
CBB has been the topic of a number of recent research reports. Gabelli cut Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Bank of America Corp. set a $16.25 price objective on Cincinnati Bell and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Cincinnati Bell in a research report on Monday, August 8th. Finally, Zacks Investment Research cut Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Monday, August 29th.
In other Cincinnati Bell news, VP Christopher J. Wilson sold 30,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the sale, the vice president now owns 74,457 shares in the company, valued at approximately $275,490.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments. The Entertainment and Communications segment provides products and services, such as high-speed Internet, data transport local voice, long distance, voice over Internet protocol (VoIP), video and other services.
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