Commonwealth Bank of Australia Acquires 87,800 Shares of Windstream Holdings Inc (WIN)
Commonwealth Bank of Australia increased its holdings in Windstream Holdings Inc (NYSE:WIN) by 79.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,000 shares of the company’s stock after purchasing an additional 87,800 shares during the period. Commonwealth Bank of Australia owned approximately 0.10% of Windstream Holdings worth $772,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Lapides Asset Management LLC boosted its holdings in Windstream Holdings by 45.5% in the second quarter. Lapides Asset Management LLC now owns 26,232 shares of the company’s stock worth $102,000 after purchasing an additional 8,200 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Windstream Holdings in the first quarter worth $114,000. Stevens Capital Management LP bought a new stake in Windstream Holdings in the first quarter worth $117,000. Great West Life Assurance Co. Can boosted its holdings in Windstream Holdings by 142.8% in the first quarter. Great West Life Assurance Co. Can now owns 21,720 shares of the company’s stock worth $118,000 after purchasing an additional 12,774 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Windstream Holdings in the first quarter worth $120,000.
Shares of Windstream Holdings Inc (NYSE:WIN) opened at 2.04 on Friday. The firm’s 50-day moving average is $2.26 and its 200-day moving average is $4.31. Windstream Holdings Inc has a 12-month low of $1.87 and a 12-month high of $10.46. The company’s market capitalization is $389.29 million.
Windstream Holdings (NYSE:WIN) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.08. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Windstream Holdings Inc will post ($2.06) EPS for the current fiscal year.
Windstream Holdings declared that its Board of Directors has approved a share repurchase plan on Thursday, August 3rd that permits the company to repurchase $90.00 million in shares. This repurchase authorization permits the company to buy up to 19.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts recently issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $5.00 price objective (down from $9.00) on shares of Windstream Holdings in a report on Wednesday, June 14th. Zacks Investment Research cut shares of Windstream Holdings from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Citigroup Inc. decreased their price objective on shares of Windstream Holdings from $5.25 to $4.00 and set a “neutral” rating for the company in a report on Thursday, July 13th. Bank of America Corporation cut shares of Windstream Holdings from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $8.00 to $3.00 in a report on Friday, August 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $2.50 price objective on shares of Windstream Holdings in a report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Windstream Holdings currently has an average rating of “Hold” and an average price target of $4.65.
In other news, Director Anthony W. Thomas acquired 25,381 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $1.97 per share, with a total value of $50,000.57. Following the transaction, the director now directly owns 637,006 shares in the company, valued at approximately $1,254,901.82. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alan L. Wells acquired 68,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $2.10 per share, with a total value of $142,800.00. Following the transaction, the director now owns 157,971 shares in the company, valued at $331,739.10. The disclosure for this purchase can be found here. In the last three months, insiders bought 95,381 shares of company stock valued at $196,901.
Windstream Holdings Company Profile
Windstream Holdings, Inc provides network communications and technology solutions in the United States. Its ILEC Consumer and Small Business segment offers consumer services, including high-speed Internet access; Internet security services; online backup services; basic local telephone services and long-distance services, as well as call waiting, caller identification, call forwarding, and other services; and video services, as well as owns and operates cable television franchises, and sells and leases equipment to support its consumer high-speed Internet and voice services.
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