Cornerstone Capital Management Holdings LLC. Takes Position in Cincinnati Bell Inc (CBB)

Cornerstone Capital Management Holdings LLC. acquired a new stake in Cincinnati Bell Inc (NYSE:CBB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 39,900 shares of the utilities provider’s stock, valued at approximately $791,000. Cornerstone Capital Management Holdings LLC. owned approximately 0.09% of Cincinnati Bell as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CBB. Aperio Group LLC raised its stake in shares of Cincinnati Bell by 49.3% in the 2nd quarter. Aperio Group LLC now owns 19,457 shares of the utilities provider’s stock valued at $380,000 after buying an additional 6,425 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Cincinnati Bell by 4.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 390 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Cincinnati Bell by 9.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 354,362 shares of the utilities provider’s stock worth $6,928,000 after purchasing an additional 31,687 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cincinnati Bell by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 721,922 shares of the utilities provider’s stock worth $14,113,000 after purchasing an additional 26,313 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Cincinnati Bell by 16.8% in the 2nd quarter. Legal & General Group Plc now owns 88,599 shares of the utilities provider’s stock worth $1,732,000 after purchasing an additional 12,763 shares during the last quarter. Institutional investors own 83.54% of the company’s stock.

Shares of Cincinnati Bell Inc (CBB) opened at $21.15 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. Cincinnati Bell Inc has a fifty-two week low of $16.05 and a fifty-two week high of $24.45. The firm has a market cap of $898.55, a PE ratio of 22.50, a PEG ratio of 6.53 and a beta of 1.52.

Cincinnati Bell (NYSE:CBB) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $289.20 million for the quarter, compared to analyst estimates of $286.22 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. research analysts expect that Cincinnati Bell Inc will post 1.09 earnings per share for the current year.

Several equities research analysts have recently weighed in on CBB shares. Morgan Stanley started coverage on shares of Cincinnati Bell in a report on Thursday, November 30th. They issued an “equal weight” rating and a $24.00 target price on the stock. ValuEngine raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a report on Friday, September 1st.

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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.

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

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