BidaskClub Downgrades Windstream Holdings Inc (WIN) to Sell

Windstream Holdings Inc (NYSE:WIN) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, October 23rd.

Other research analysts have also recently issued reports about the company. Cowen and Company reaffirmed a “buy” rating on shares of Windstream Holdings in a report on Thursday, October 19th. Deutsche Bank AG decreased their price objective on Windstream Holdings from $7.00 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, August 8th. Bank of America Corporation cut Windstream Holdings from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $8.00 to $3.00 in a report on Friday, August 4th. UBS AG reaffirmed a “sell” rating and set a $2.00 price objective (down from $4.00) on shares of Windstream Holdings in a report on Monday, August 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $2.40 price objective (down from $5.00) on shares of Windstream Holdings in a report on Wednesday, August 23rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.08.

Shares of Windstream Holdings (WIN) traded down 2.941% during trading on Monday, reaching $1.815. 726,400 shares of the company traded hands. The company has a 50 day moving average price of $1.95 and a 200 day moving average price of $3.41. The firm’s market capitalization is $346.35 million. Windstream Holdings has a 12-month low of $1.73 and a 12-month high of $8.35.

Windstream Holdings (NYSE:WIN) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.08. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $0.01 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Windstream Holdings will post ($1.96) EPS for the current year.

Windstream Holdings declared that its Board of Directors has approved a stock buyback plan on Thursday, August 3rd that allows the company to repurchase $90.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 19.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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In related news, Director Anthony W. Thomas acquired 25,381 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $1.97 per share, for a total transaction of $50,000.57. Following the purchase, the director now directly owns 637,006 shares of the company’s stock, valued at approximately $1,254,901.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan L. Wells acquired 68,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $2.10 per share, with a total value of $142,800.00. Following the completion of the purchase, the director now directly owns 157,971 shares in the company, valued at $331,739.10. The disclosure for this purchase can be found here. Insiders have bought a total of 95,381 shares of company stock worth $196,901 in the last three months.

Several hedge funds and other institutional investors have recently modified their holdings of WIN. Russell Investments Group Ltd. raised its stake in Windstream Holdings by 47.4% in the first quarter. Russell Investments Group Ltd. now owns 23,559 shares of the company’s stock valued at $128,000 after buying an additional 7,576 shares during the last quarter. Wells Fargo & Company MN raised its stake in Windstream Holdings by 87.3% in the first quarter. Wells Fargo & Company MN now owns 254,020 shares of the company’s stock valued at $1,385,000 after buying an additional 118,416 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Windstream Holdings by 142.8% in the first quarter. Great West Life Assurance Co. Can now owns 21,720 shares of the company’s stock valued at $118,000 after buying an additional 12,774 shares during the last quarter. Swiss National Bank raised its stake in Windstream Holdings by 89.7% in the first quarter. Swiss National Bank now owns 309,904 shares of the company’s stock valued at $1,689,000 after buying an additional 146,504 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Windstream Holdings by 61.0% in the first quarter. UBS Asset Management Americas Inc. now owns 147,392 shares of the company’s stock valued at $803,000 after buying an additional 55,837 shares during the last quarter.

About Windstream Holdings

Windstream Holdings, Inc provides network communications and technology solutions in the United States. Its ILEC Consumer and Small Business segment offers consumer services, including high-speed Internet access; Internet security services; online backup services; basic local telephone services and long-distance services, as well as call waiting, caller identification, call forwarding, and other services; and video services, as well as owns and operates cable television franchises, and sells and leases equipment to support its consumer high-speed Internet and voice services.

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