Bank of New York Mellon Corp Acquires 13,519 Shares of Windstream Holdings Inc (WIN)
Bank of New York Mellon Corp raised its holdings in shares of Windstream Holdings Inc (NYSE:WIN) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,212,485 shares of the company’s stock after buying an additional 13,519 shares during the period. Bank of New York Mellon Corp owned about 1.69% of Windstream Holdings worth $12,464,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in WIN. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Windstream Holdings during the first quarter valued at approximately $114,000. Stevens Capital Management LP acquired a new position in Windstream Holdings during the first quarter valued at approximately $117,000. Great West Life Assurance Co. Can lifted its position in Windstream Holdings by 142.8% during the first quarter. Great West Life Assurance Co. Can now owns 21,720 shares of the company’s stock valued at $118,000 after buying an additional 12,774 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Windstream Holdings during the first quarter valued at approximately $120,000. Finally, Amalgamated Bank lifted its position in Windstream Holdings by 87.7% during the first quarter. Amalgamated Bank now owns 22,566 shares of the company’s stock valued at $123,000 after buying an additional 10,541 shares in the last quarter.
In related news, Director Anthony W. Thomas bought 25,381 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $1.97 per share, with a total value of $50,000.57. Following the completion of the transaction, the director now directly owns 637,006 shares of the company’s stock, valued at $1,254,901.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alan L. Wells bought 68,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $2.10 per share, with a total value of $142,800.00. Following the transaction, the director now directly owns 157,971 shares of the company’s stock, valued at $331,739.10. The disclosure for this purchase can be found here. Insiders have acquired 95,381 shares of company stock valued at $196,901 in the last ninety days.
Shares of Windstream Holdings Inc (NYSE WIN) opened at 1.93 on Friday. The stock’s 50 day moving average is $2.15 and its 200-day moving average is $4.19. The stock’s market cap is $368.30 million. Windstream Holdings Inc has a 1-year low of $1.87 and a 1-year high of $10.46.
Windstream Holdings (NYSE:WIN) last announced its earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. On average, analysts anticipate that Windstream Holdings Inc will post ($2.06) EPS for the current year.
Windstream Holdings announced that its Board of Directors has initiated a share repurchase program on Thursday, August 3rd that authorizes the company to buyback $90.00 million in shares. This buyback authorization authorizes the company to reacquire up to 19.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
A number of research analysts have weighed in on WIN shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $2.50 price target on shares of Windstream Holdings in a research report on Thursday, September 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $5.00 price target (down from $9.00) on shares of Windstream Holdings in a research report on Wednesday, June 14th. Citigroup Inc. reduced their price target on shares of Windstream Holdings from $5.25 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, July 13th. UBS AG reaffirmed a “sell” rating and set a $2.00 price target (down from $4.00) on shares of Windstream Holdings in a research report on Monday, August 14th. Finally, Zacks Investment Research cut shares of Windstream Holdings from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $4.65.
Windstream Holdings 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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