WideOpenWest (NYSE:WOW) Downgraded to "Hold" Rating by Benchmark

Key Points

• Benchmark has reiterated its "hold" rating for WideOpenWest (NYSE:WOW), while Wall Street Zen has downgraded the stock to a "sell" rating.
• WideOpenWest's stock was up to $5.06 on Tuesday, with significant trading volume of over 33 million shares compared to its average volume of 567,872.
• The company reported a net loss of ($0.22) earnings per share, below the analysts' expectations, but its revenue of $144.20 million slightly exceeded anticipated figures.

WideOpenWest (NYSE:WOW - Get Free Report) was downgraded by equities researchers at Benchmark from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

Several other research firms also recently weighed in on WOW. Wall Street Zen downgraded shares of WideOpenWest from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. UBS Group reissued a "neutral" rating and issued a $5.20 price target (up from $4.80) on shares of WideOpenWest in a research note on Tuesday.

WideOpenWest Price Performance

WOW traded up $0.01 during midday trading on Tuesday, hitting $5.07. 1,137,963 shares of the company traded hands, compared to its average volume of 3,169,809. The business has a 50 day simple moving average of $3.94 and a two-hundred day simple moving average of $4.30. The company has a current ratio of 0.64, a quick ratio of 0.66 and a debt-to-equity ratio of 5.71. The company has a market capitalization of $434.84 million, a price-to-earnings ratio of -6.42 and a beta of 1.24. WideOpenWest has a 52-week low of $3.06 and a 52-week high of $5.80.

WideOpenWest (NYSE:WOW - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). The business had revenue of $144.20 million during the quarter, compared to analysts' expectations of $143.62 million. WideOpenWest had a negative return on equity of 32.26% and a negative net margin of 10.70%. On average, equities analysts forecast that WideOpenWest will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WideOpenWest

A number of institutional investors and hedge funds have recently made changes to their positions in WOW. Vanguard Group Inc. raised its stake in shares of WideOpenWest by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 3,256,872 shares of the company's stock valued at $16,154,000 after acquiring an additional 60,912 shares during the period. JPMorgan Chase & Co. raised its stake in shares of WideOpenWest by 40.9% in the 4th quarter. JPMorgan Chase & Co. now owns 706,080 shares of the company's stock valued at $3,502,000 after acquiring an additional 204,926 shares during the period. Geode Capital Management LLC raised its stake in shares of WideOpenWest by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,127,691 shares of the company's stock valued at $5,595,000 after acquiring an additional 14,187 shares during the period. Wells Fargo & Company MN raised its stake in shares of WideOpenWest by 27.4% in the 4th quarter. Wells Fargo & Company MN now owns 29,684 shares of the company's stock valued at $147,000 after acquiring an additional 6,391 shares during the period. Finally, Invesco Ltd. raised its stake in shares of WideOpenWest by 1.5% in the 4th quarter. Invesco Ltd. now owns 373,597 shares of the company's stock valued at $1,853,000 after acquiring an additional 5,465 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

WideOpenWest Company 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.