Invesco Ltd. Cuts Holdings in WideOpenWest, Inc. $WOW

Key Points

• Invesco Ltd. reduced its stake in WideOpenWest, Inc. by 18.2%, selling 68,130 shares during the first quarter to own approximately 0.36% of the company, valued at $1.5 million.
• WideOpenWest recently reported an EPS of -$0.22, missing the consensus estimate of -$0.15, with revenue for the quarter at $144.2 million.
• Analysts have recently downgraded WideOpenWest's stock rating, with Benchmark lowering it to a "hold" and Wall Street Zen rating it a "sell."

Invesco Ltd. reduced its holdings in WideOpenWest, Inc. (NYSE:WOW - Free Report) by 18.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 305,467 shares of the company's stock after selling 68,130 shares during the quarter. Invesco Ltd. owned about 0.36% of WideOpenWest worth $1,512,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in WideOpenWest by 15.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,530 shares of the company's stock worth $97,000 after buying an additional 2,657 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in WideOpenWest by 2.3% in the 1st quarter. SummerHaven Investment Management LLC now owns 152,640 shares of the company's stock worth $756,000 after buying an additional 3,368 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in WideOpenWest by 26.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 24,000 shares of the company's stock worth $119,000 after buying an additional 5,000 shares in the last quarter. Wells Fargo & Company MN increased its stake in WideOpenWest by 27.4% in the 4th quarter. Wells Fargo & Company MN now owns 29,684 shares of the company's stock worth $147,000 after buying an additional 6,391 shares in the last quarter. Finally, R Squared Ltd increased its stake in WideOpenWest by 38.0% in the 1st quarter. R Squared Ltd now owns 27,160 shares of the company's stock worth $134,000 after buying an additional 7,485 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

WideOpenWest Price Performance

Shares of NYSE WOW traded up $0.06 during mid-day trading on Friday, hitting $5.14. 1,639,302 shares of the company's stock traded hands, compared to its average volume of 3,402,057. The company's 50-day moving average is $4.25 and its two-hundred day moving average is $4.37. The company has a debt-to-equity ratio of 5.71, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $440.43 million, a P/E ratio of -6.50 and a beta of 1.28. WideOpenWest, Inc. has a 1 year low of $3.06 and a 1 year high of $5.78.

WideOpenWest (NYSE:WOW - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07). The firm 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 anticipate that WideOpenWest, Inc. will post -0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WOW. Wall Street Zen lowered WideOpenWest from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Benchmark lowered WideOpenWest from a "buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Finally, UBS Group reissued a "neutral" rating and set a $5.20 price objective (up previously from $4.80) on shares of WideOpenWest in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, WideOpenWest presently has a consensus rating of "Hold" and an average target price of $5.85.

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.