Windstream Holdings Inc (WIN) Bond Prices Rise 1.3%

An issue of Windstream Holdings Inc (NYSE:WIN) debt rose 1.3% against its face value during trading on Friday. The high-yield issue of debt has a 6.375% coupon and will mature on August 1, 2023. The debt is now trading at $74.50 and was trading at $74.00 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

Several brokerages recently weighed in on WIN. Deutsche Bank AG cut their price target on shares of Windstream Holdings from $7.00 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, August 8th. BidaskClub downgraded shares of Windstream Holdings from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Windstream Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Bank of America Corporation downgraded shares of Windstream Holdings from a “buy” rating to an “underperform” rating and cut their price target for the stock from $8.00 to $3.00 in a report on Friday, August 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $2.50 price target (down previously from $5.00) on shares of Windstream Holdings in a report on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $4.08.

Windstream Holdings Inc (NYSE WIN) traded down 3.21% during midday trading on Monday, reaching $1.81. The company’s stock had a trading volume of 726,800 shares. Windstream Holdings Inc has a 12-month low of $1.73 and a 12-month high of $8.35. The stock’s market cap is $345.40 million. The stock’s 50 day moving average is $1.95 and its 200 day moving average is $3.41.

Windstream Holdings (NYSE:WIN) last released its earnings results 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 during the quarter, compared to analyst estimates of $1.50 billion. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. Analysts anticipate that Windstream Holdings Inc will post ($1.96) earnings per share for the current year.

Windstream Holdings declared that its board has initiated a share buyback plan on Thursday, August 3rd that authorizes the company to repurchase $90.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 19.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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

Several large investors have recently added to or reduced their stakes in WIN. Russell Investments Group Ltd. increased its holdings in shares of 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 purchasing an additional 7,576 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of 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 purchasing an additional 12,774 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of 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 purchasing an additional 55,837 shares during the period. Karp Capital Management Corp acquired a new position in shares of Windstream Holdings in the first quarter valued at approximately $241,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Windstream Holdings by 51.5% in the first quarter. Ameriprise Financial Inc. now owns 809,331 shares of the company’s stock valued at $4,411,000 after purchasing an additional 275,139 shares during the period.

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Windstream Holdings Company Profile

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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