WideOpenWest (NYSE:WOW) Downgraded by Benchmark to Hold

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 Benchmark from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports.

Other analysts have also recently issued reports about the company. Wall Street Zen cut WideOpenWest from a "hold" rating to a "sell" rating in a research report on Saturday. UBS Group restated a "neutral" rating and issued a $5.20 price objective (up from $4.80) on shares of WideOpenWest in a research report on Tuesday.

WideOpenWest Stock Up 49.3%

Shares of WOW stock opened at $5.05 on Tuesday. The stock has a 50 day moving average of $3.88 and a 200 day moving average of $4.28. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 5.17. The stock has a market cap of $431.23 million, a P/E ratio of -6.39 and a beta of 1.24. WideOpenWest has a twelve month low of $3.06 and a twelve month high of $5.80.

WideOpenWest (NYSE:WOW - Get Free Report) last announced 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 company had revenue of $144.20 million for the quarter, compared to analysts' expectations of $143.62 million. WideOpenWest had a negative net margin of 10.70% and a negative return on equity of 31.24%. As a group, sell-side analysts expect that WideOpenWest will post -0.72 EPS for the current year.

Institutional Trading of WideOpenWest

A number of institutional investors and hedge funds have recently made changes to their positions in WOW. Crestview Partners III GP L.P. boosted its stake in shares of WideOpenWest by 0.3% in the second quarter. Crestview Partners III GP L.P. now owns 31,748,269 shares of the company's stock worth $128,898,000 after acquiring an additional 86,673 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of WideOpenWest in the second quarter worth approximately $200,000. Rhumbline Advisers boosted its stake in shares of WideOpenWest by 3.8% in the second quarter. Rhumbline Advisers now owns 78,476 shares of the company's stock worth $319,000 after acquiring an additional 2,874 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of WideOpenWest by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,157,310 shares of the company's stock worth $4,700,000 after acquiring an additional 21,071 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of WideOpenWest in the second quarter worth approximately $88,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.