Private Management Group Inc. Lowers Position in WideOpenWest, Inc. (NYSE:WOW)

Private Management Group Inc. trimmed its position in shares of WideOpenWest, Inc. (NYSE:WOW) by 60.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 389,251 shares of the company’s stock after selling 583,906 shares during the quarter. Private Management Group Inc. owned 0.46% of WideOpenWest worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Gabelli Funds LLC lifted its holdings in WideOpenWest by 91.8% during the second quarter. Gabelli Funds LLC now owns 1,516,931 shares of the company’s stock worth $8,207,000 after acquiring an additional 726,000 shares during the period. Bares Capital Management Inc. increased its position in shares of WideOpenWest by 20.5% during the 1st quarter. Bares Capital Management Inc. now owns 3,169,204 shares of the company’s stock valued at $11,473,000 after purchasing an additional 538,770 shares during the last quarter. Luxor Capital Group LP raised its stake in shares of WideOpenWest by 583.4% during the 2nd quarter. Luxor Capital Group LP now owns 431,670 shares of the company’s stock worth $2,335,000 after purchasing an additional 368,508 shares during the period. LB Partners LLC boosted its holdings in shares of WideOpenWest by 2.1% in the 2nd quarter. LB Partners LLC now owns 6,587,126 shares of the company’s stock worth $35,636,000 after buying an additional 135,975 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in WideOpenWest during the second quarter valued at about $546,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark dropped their target price on shares of WideOpenWest from $8.00 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 26th.

WideOpenWest Stock Up 3.6 %

Shares of NYSE WOW opened at $5.17 on Friday. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $437.85 million, a PE ratio of -2.42 and a beta of 1.49. WideOpenWest, Inc. has a one year low of $2.31 and a one year high of $7.88. The business’s fifty day moving average price is $5.25 and its 200-day moving average price is $5.02.

WideOpenWest (NYSE:WOW) last issued its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $158.80 million during the quarter, compared to analyst estimates of $159.14 million. WideOpenWest had a negative net margin of 26.25% and a negative return on equity of 12.57%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. On average, equities research analysts anticipate that WideOpenWest, Inc. will post -0.61 EPS for the current year.

WideOpenWest Profile

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.