An issue of Windstream Holdings Inc (NYSE:WIN) bonds rose 2% against their face value during trading on Wednesday. The high-yield debt issue has a 7.75% coupon and is set to mature on October 15, 2020. The debt is now trading at $87.50 and was trading at $88.38 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.
Several brokerages recently weighed in on WIN. BidaskClub cut shares of Windstream Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Cowen and Company reaffirmed a “buy” rating on shares of Windstream Holdings in a research report on Thursday, October 19th. Zacks Investment Research cut shares of Windstream Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $2.50 price target on shares of Windstream Holdings in a research report on Thursday, September 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $2.40 price target (down previously from $5.00) on shares of Windstream Holdings in a research report on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.08.
Shares of Windstream Holdings Inc (NYSE:WIN) traded down 3.21% during trading on Monday, reaching $1.81. 726,900 shares of the company traded hands. The stock’s market capitalization is $345.40 million. The firm’s 50 day moving average is $1.95 and its 200-day moving average is $3.41. Windstream Holdings Inc 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 for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.08. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Windstream Holdings’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 EPS. On average, equities research analysts anticipate that Windstream Holdings Inc will post ($1.96) earnings per share for the current fiscal year.
Windstream Holdings announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
In other Windstream Holdings news, Director Alan L. Wells acquired 68,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average price of $2.10 per share, for a total transaction of $142,800.00. Following the completion of the acquisition, the director now owns 157,971 shares in the company, valued at $331,739.10. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anthony W. Thomas acquired 25,381 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $1.97 per share, for a total transaction of $50,000.57. Following the acquisition, the director now owns 637,006 shares of the company’s stock, valued at approximately $1,254,901.82. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 95,381 shares of company stock worth $196,901.
Hedge funds and other institutional investors have recently modified their holdings of the company. Lapides Asset Management LLC lifted its stake in shares of Windstream Holdings by 45.5% in the second quarter. Lapides Asset Management LLC now owns 26,232 shares of the company’s stock worth $102,000 after buying an additional 8,200 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Windstream Holdings by 175.5% in the second quarter. Cubist Systematic Strategies LLC now owns 29,780 shares of the company’s stock worth $116,000 after buying an additional 18,969 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake 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 worth $118,000 after buying an additional 12,774 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Windstream Holdings in the first quarter worth approximately $120,000. Finally, Amalgamated Bank lifted its stake in shares of Windstream Holdings by 87.7% in the first quarter. Amalgamated Bank now owns 22,566 shares of the company’s stock worth $123,000 after buying an additional 10,541 shares in the last quarter.
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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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