WideOpenWest (WOW) Trading 6.3% Higher on Insider Buying Activity

Shares of WideOpenWest, Inc. (NYSE:WOW) traded up 6.3% on Thursday after an insider bought additional shares in the company. The company traded as high as $10.82 and last traded at $10.43. 547,365 shares were traded during mid-day trading, an increase of 71% from the average session volume of 320,987 shares. The stock had previously closed at $9.81.

Specifically, General Counsel Donald Craig Martin acquired 15,320 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was bought at an average cost of $9.79 per share, with a total value of $149,982.80. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Catherine Kuo acquired 17,722 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was purchased at an average cost of $9.69 per share, with a total value of $171,726.18. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 77,007 shares of company stock valued at $752,075.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $20.00 price objective on shares of WideOpenWest in a research report on Monday, September 18th. Zacks Investment Research cut shares of WideOpenWest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 18th. UBS decreased their price objective on shares of WideOpenWest from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, November 14th. Finally, SunTrust Banks reissued a “buy” rating and issued a $18.00 price objective on shares of WideOpenWest in a research report on Tuesday, November 14th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $18.25.

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of -8.37.

WideOpenWest (NYSE:WOW) last issued its quarterly earnings results on Monday, November 13th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.20 by $0.17. The company had revenue of $297.80 million for the quarter, compared to the consensus estimate of $302.00 million. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. analysts forecast that WideOpenWest, Inc. will post 0.77 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC lifted its position in shares of WideOpenWest by 0.9% during the third quarter. Neuberger Berman Group LLC now owns 565,000 shares of the company’s stock worth $8,520,000 after purchasing an additional 5,000 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of WideOpenWest during the second quarter worth about $113,000. SG Americas Securities LLC bought a new position in shares of WideOpenWest during the third quarter worth about $109,000. New Jersey Better Educational Savings Trust lifted its position in shares of WideOpenWest by 80.0% during the third quarter. New Jersey Better Educational Savings Trust now owns 18,000 shares of the company’s stock worth $271,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Supplemental Annuity Collective Trust of NJ lifted its position in shares of WideOpenWest by 56.3% during the third quarter. Supplemental Annuity Collective Trust of NJ now owns 25,000 shares of the company’s stock worth $377,000 after purchasing an additional 9,000 shares during the last quarter. 53.79% of the stock is currently owned by institutional investors and hedge funds.

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WideOpenWest Company Profile

WideOpenWest, Inc is a cable operator in the United States. The Company provides high-speed data (HSD), cable television (Video), digital telephony (Telephony) and business-class services. The Company’s products are available either as a bundle or as an individual service to residential and business services customers.

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