Insider Selling: WideOpenWest, Inc. (NYSE:WOW) Insider Sells 10,000 Shares of Stock

WideOpenWest, Inc. (NYSE:WOW) insider Don Schena sold 10,000 shares of WideOpenWest stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $5.00, for a total value of $50,000.00. Following the completion of the sale, the insider now owns 286,413 shares in the company, valued at $1,432,065. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

WideOpenWest Stock Performance

WOW opened at $4.67 on Friday. WideOpenWest, Inc. has a twelve month low of $2.31 and a twelve month high of $9.06. The firm has a market capitalization of $389.08 million, a PE ratio of -1.43 and a beta of 1.39. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.55. The firm’s 50-day moving average price is $3.62 and its 200 day moving average price is $4.03.

WideOpenWest (NYSE:WOW) last issued its earnings results on Tuesday, May 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). WideOpenWest had a negative return on equity of 12.32% and a negative net margin of 41.90%. The company had revenue of $161.50 million for the quarter, compared to analyst estimates of $161.40 million. During the same quarter in the prior year, the firm earned ($0.46) earnings per share. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, sell-side analysts expect that WideOpenWest, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Trading of WideOpenWest

Several large investors have recently added to or reduced their stakes in the stock. LB Partners LLC boosted its holdings in WideOpenWest by 116.8% in the 1st quarter. LB Partners LLC now owns 6,451,151 shares of the company’s stock valued at $23,353,000 after purchasing an additional 3,475,190 shares during the last quarter. Alberta Investment Management Corp grew its position in WideOpenWest by 26.9% in the third quarter. Alberta Investment Management Corp now owns 3,228,860 shares of the company’s stock worth $24,701,000 after acquiring an additional 684,699 shares during the period. Private Management Group Inc. increased its stake in WideOpenWest by 126.9% during the fourth quarter. Private Management Group Inc. now owns 997,008 shares of the company’s stock worth $4,038,000 after acquiring an additional 557,653 shares during the last quarter. Heartland Advisors Inc. raised its position in WideOpenWest by 97.0% in the third quarter. Heartland Advisors Inc. now owns 1,004,150 shares of the company’s stock valued at $7,682,000 after purchasing an additional 494,300 shares during the period. Finally, Readystate Asset Management LP purchased a new stake in WideOpenWest in the fourth quarter valued at $1,718,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WOW shares. Benchmark restated a “buy” rating and issued a $8.00 target price on shares of WideOpenWest in a research report on Thursday, March 14th. Raymond James downgraded WideOpenWest from an “outperform” rating to a “market perform” rating in a research note on Wednesday.

About WideOpenWest

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.