WideOpenWest (NYSE:WOW) CEO Teresa Elder Sells 20,000 Shares

Key Points

• Teresa Elder, CEO of WideOpenWest, sold 20,000 shares of the company's stock on October 1st for a total of $102,400, reducing her ownership stake by 1.29% to approximately 1.54 million shares valued at about $7.86 million.
• WideOpenWest reported an earnings miss with a loss of ($0.22) per share for the last quarter, failing to meet analysts' expectations of ($0.15), despite revenue slightly exceeding estimates at $144.20 million.
• Recent analyst activity includes a downgrade by Wall Street Zen from "hold" to "sell" and a neutral rating maintained by UBS Group with a price target adjustment to $5.20.

WideOpenWest, Inc. (NYSE:WOW - Get Free Report) CEO Teresa Elder sold 20,000 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $5.12, for a total transaction of $102,400.00. Following the sale, the chief executive officer directly owned 1,535,787 shares in the company, valued at approximately $7,863,229.44. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

WideOpenWest Price Performance

Shares of NYSE WOW traded up $0.01 during midday trading on Wednesday, reaching $5.09. 361,877 shares of the company were exchanged, compared to its average volume of 708,303. The stock's 50-day moving average price is $4.19 and its 200-day moving average price is $4.36. The stock has a market cap of $436.13 million, a P/E ratio of -6.44 and a beta of 1.28. WideOpenWest, Inc. has a one year low of $3.06 and a one year high of $5.78. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 5.71.

WideOpenWest (NYSE:WOW - Get Free Report) last posted its 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 for the quarter, compared to the consensus estimate of $143.62 million. WideOpenWest had a negative return on equity of 32.26% and a negative net margin of 10.70%. On average, sell-side analysts anticipate that WideOpenWest, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Crestview Partners III GP L.P. grew its position in shares of WideOpenWest by 0.3% during the 2nd quarter. Crestview Partners III GP L.P. now owns 31,748,269 shares of the company's stock valued at $128,898,000 after acquiring an additional 86,673 shares during the period. LB Partners LLC grew its position in shares of WideOpenWest by 4.1% during the 1st quarter. LB Partners LLC now owns 7,358,522 shares of the company's stock valued at $35,946,000 after acquiring an additional 288,678 shares during the period. Paragon Capital Management Ltd grew its position in shares of WideOpenWest by 6.0% during the 2nd quarter. Paragon Capital Management Ltd now owns 1,305,912 shares of the company's stock valued at $5,302,000 after acquiring an additional 73,901 shares during the period. Geode Capital Management LLC grew its position in shares of WideOpenWest by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,157,310 shares of the company's stock valued at $4,700,000 after acquiring an additional 21,071 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of WideOpenWest by 32.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,108,298 shares of the company's stock valued at $5,497,000 after acquiring an additional 273,737 shares during the period. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WOW. Wall Street Zen cut 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 set a $5.20 price objective (up previously from $4.80) on shares of WideOpenWest in a report on Tuesday, August 12th. Finally, Benchmark lowered shares of WideOpenWest from a "buy" rating to a "hold" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.85.

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.

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