Gabelli Funds LLC Sells 133,000 Shares of WideOpenWest, Inc. $WOW

Key Points

• Gabelli Funds LLC has reduced its holdings in WideOpenWest, Inc. by 10.2%, now owning approximately 1.38% of the company, valued at $5.82 million.
• WideOpenWest reported an EPS of -$0.22, missing the consensus estimate, while its revenue was slightly above expectations at $144.2 million.
• Wall Street analysts have mixed sentiments, with the average rating being "Hold" and a consensus price target of $5.85 following recent downgrades.

Gabelli Funds LLC cut its stake in shares of WideOpenWest, Inc. (NYSE:WOW - Free Report) by 10.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,175,374 shares of the company's stock after selling 133,000 shares during the quarter. Gabelli Funds LLC owned 1.38% of WideOpenWest worth $5,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. LB Partners LLC boosted its position in WideOpenWest by 4.1% in the first quarter. LB Partners LLC now owns 7,358,522 shares of the company's stock valued at $35,946,000 after buying an additional 288,678 shares in the last quarter. Paragon Capital Management Ltd bought a new position in shares of WideOpenWest in the 1st quarter valued at $6,098,000. Bank of America Corp DE boosted its holdings in shares of WideOpenWest by 25.7% during the 4th quarter. Bank of America Corp DE now owns 340,494 shares of the company's stock valued at $1,689,000 after acquiring an additional 69,708 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in WideOpenWest by 32.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,108,298 shares of the company's stock worth $5,497,000 after acquiring an additional 273,737 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in WideOpenWest by 325.7% in the 4th quarter. Mackenzie Financial Corp now owns 85,646 shares of the company's stock worth $425,000 after purchasing an additional 65,528 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wall Street Zen downgraded WideOpenWest from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. UBS Group reaffirmed a "neutral" rating and set a $5.20 target price (up from $4.80) on shares of WideOpenWest in a research report on Tuesday, August 12th. Finally, Benchmark cut WideOpenWest from a "buy" rating to a "hold" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, WideOpenWest currently has an average rating of "Hold" and a consensus target price of $5.85.

WideOpenWest Stock Down 0.1%

WideOpenWest stock traded down $0.01 during midday trading on Tuesday, reaching $5.09. The stock had a trading volume of 264,930 shares, compared to its average volume of 709,351. The company has a fifty day moving average price of $4.17 and a two-hundred day moving average price of $4.35. WideOpenWest, Inc. has a 12 month low of $3.06 and a 12 month high of $5.78. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 5.71. The company has a market capitalization of $436.14 million, a P/E ratio of -6.44 and a beta of 1.28.

WideOpenWest (NYSE:WOW - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07). WideOpenWest had a negative net margin of 10.70% and a negative return on equity of 32.26%. The firm had revenue of $144.20 million during the quarter, compared to analyst estimates of $143.62 million. As a group, equities analysts expect that WideOpenWest, Inc. will post -0.72 EPS for the current fiscal 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.