LB Partners LLC Has $27.25 Million Stake in WideOpenWest, Inc. $WOW

Key Points

• LB Partners LLC reduced its stake in WideOpenWest, Inc. by 8.8% in Q2, now holding 6,711,471 shares worth approximately $27.25 million, making it the company's second largest position.
• Wall Street analysts have issued mixed ratings for WideOpenWest, with a consensus rating of "Reduce" and a target price of $5.85.
• The company reported a loss of ($0.22) earnings per share in its last quarterly results, missing consensus estimates, despite achieving revenue of $144.20 million.

LB Partners LLC lessened its holdings in shares of WideOpenWest, Inc. (NYSE:WOW - Free Report) by 8.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,711,471 shares of the company's stock after selling 647,051 shares during the quarter. WideOpenWest accounts for approximately 17.4% of LB Partners LLC's portfolio, making the stock its 2nd largest position. LB Partners LLC owned about 7.85% of WideOpenWest worth $27,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WOW. Nuveen LLC bought a new stake in WideOpenWest during the 1st quarter valued at $718,000. Paragon Capital Management Ltd grew its stake in shares of WideOpenWest by 6.0% in the 2nd quarter. Paragon Capital Management Ltd now owns 1,305,912 shares of the company's stock worth $5,302,000 after acquiring an additional 73,901 shares in the last quarter. Empowered Funds LLC grew its stake in shares of WideOpenWest by 119.8% in the 1st quarter. Empowered Funds LLC now owns 96,638 shares of the company's stock worth $478,000 after acquiring an additional 52,669 shares in the last quarter. Strs Ohio bought a new stake in shares of WideOpenWest in the 1st quarter worth $233,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of WideOpenWest by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 648,947 shares of the company's stock worth $3,212,000 after acquiring an additional 37,306 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of WideOpenWest from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. UBS Group reiterated a "neutral" rating and issued a $5.20 target price (up previously from $4.80) on shares of WideOpenWest in a research note on Tuesday, August 12th. Benchmark lowered shares of WideOpenWest from a "buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of WideOpenWest in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $5.85.

WideOpenWest Price Performance

Shares of NYSE:WOW opened at $5.14 on Monday. The company's 50-day moving average is $5.09 and its 200 day moving average is $4.44. The company has a debt-to-equity ratio of 5.71, a quick ratio of 0.64 and a current 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 1.26. WideOpenWest, Inc. has a fifty-two week low of $3.06 and a fifty-two week high of $5.78.

WideOpenWest (NYSE:WOW - Get Free Report) last issued its quarterly earnings results 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 company 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 research analysts forecast that WideOpenWest, Inc. will post -0.72 earnings per share for the current year.

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.

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