New York State Common Retirement Fund Sells 1 Shares of Cincinnati Bell Inc (CBB)

New York State Common Retirement Fund reduced its position in shares of Cincinnati Bell Inc (NYSE:CBB) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,240 shares of the utilities provider’s stock after selling 1 shares during the period. New York State Common Retirement Fund owned about 0.11% of Cincinnati Bell worth $884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CBB. State of Alaska Department of Revenue increased its stake in shares of Cincinnati Bell by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 8,316 shares of the utilities provider’s stock worth $162,000 after buying an additional 3,666 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Cincinnati Bell by 4.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the utilities provider’s stock worth $195,000 after buying an additional 390 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Cincinnati Bell in the first quarter worth $231,000. BNP Paribas Arbitrage SA increased its stake in shares of Cincinnati Bell by 41.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,883 shares of the utilities provider’s stock worth $252,000 after buying an additional 3,779 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Cincinnati Bell by 0.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,134 shares of the utilities provider’s stock worth $374,000 after buying an additional 100 shares during the last quarter. 85.05% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the stock. Gabelli lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. ValuEngine upgraded shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Cincinnati Bell presently has a consensus rating of “Hold” and an average target price of $23.50.

Shares of Cincinnati Bell Inc (NYSE:CBB) opened at $19.35 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of -4.26. The stock has a market cap of $816.29, a price-to-earnings ratio of 193.50, a P/E/G ratio of 5.39 and a beta of 1.47. Cincinnati Bell Inc has a 12 month low of $16.05 and a 12 month high of $24.45.

Cincinnati Bell (NYSE:CBB) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.05. Cincinnati Bell had a net margin of 4.13% and a negative return on equity of 2.69%. The firm had revenue of $289.20 million during the quarter, compared to analyst estimates of $286.22 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. analysts expect that Cincinnati Bell Inc will post 1.2 EPS for the current year.

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Cincinnati Bell Profile

Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.

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Institutional Ownership by Quarter for Cincinnati Bell (NYSE:CBB)

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