Metropolitan Life Insurance Co. NY maintained its stake in shares of Cincinnati Bell Inc. (NYSE:CBB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,813 shares of the utilities provider’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Cincinnati Bell were worth $510,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in Cincinnati Bell during the first quarter valued at about $777,000. Norges Bank acquired a new position in shares of Cincinnati Bell during the fourth quarter valued at $4,150,000. Ameriprise Financial Inc. boosted its position in shares of Cincinnati Bell by 6.4% in the first quarter. Ameriprise Financial Inc. now owns 232,924 shares of the utilities provider’s stock valued at $4,123,000 after buying an additional 13,983 shares during the period. Mason Street Advisors LLC boosted its position in shares of Cincinnati Bell by 7.3% in the first quarter. Mason Street Advisors LLC now owns 9,851 shares of the utilities provider’s stock valued at $174,000 after buying an additional 668 shares during the period. Finally, State of Tennessee Treasury Department boosted its position in shares of Cincinnati Bell by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 39,368 shares of the utilities provider’s stock valued at $697,000 after buying an additional 5,941 shares during the period. 82.43% of the stock is currently owned by institutional investors.

Cincinnati Bell Inc. (NYSE:CBB) traded up 0.24% during trading on Friday, reaching $21.30. The company’s stock had a trading volume of 397,415 shares. The stock has a market capitalization of $898.33 million, a PE ratio of 12.99 and a beta of 1.66. The stock has a 50 day moving average price of $18.95 and a 200 day moving average price of $18.88. Cincinnati Bell Inc. has a 1-year low of $16.05 and a 1-year high of $24.45.

Cincinnati Bell (NYSE:CBB) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $294 million for the quarter, compared to analyst estimates of $284.28 million. Cincinnati Bell’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. Analysts anticipate that Cincinnati Bell Inc. will post $0.93 earnings per share for the current fiscal year.

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A number of equities research analysts have commented on CBB shares. ValuEngine cut shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 price objective (down from $25.00) on shares of Cincinnati Bell in a report on Wednesday, June 14th. Gabelli lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BidaskClub raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Cincinnati Bell currently has a consensus rating of “Hold” and an average price target of $23.50.

About Cincinnati Bell

Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.

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Institutional Ownership by Quarter for Cincinnati Bell (NYSE:CBB)

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