Stock traders buy large volume of call options on WideOpenWest (NYSE:WOW)


WideOpenWest, Inc. (NYSE:WOW – Get Rating) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 14,670 call options on the company. This is a 1,015% increase from the typical daily volume of 1,316 call options.

Insider Buying and Selling at WideOpenWest

In related news, General Counsel Donald Craig Martin sold 18,232 shares of WideOpenWest in a trade on Monday, May 16. The stock was sold at an average price of $21.36, for a total transaction of $389,435.52. Following the sale, the General Counsel now directly owns 392,208 shares of the company, valued at $8,377,562.88. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders hold 4.00% of the shares of the company.

WideOpenWest Institutional Trading

A number of institutional investors have recently increased or reduced their stake in WOW. Nine Ten Capital Management LLC increased its equity stake in WideOpenWest by 1.5% in the first quarter. Nine Ten Capital Management LLC now owns 7,316,382 shares of the company worth $127,598,000 after purchasing an additional 108,605 shares during the period. Simcoe Capital Management LLC increased its holdings in WideOpenWest by 3.3% in the first quarter. Simcoe Capital Management LLC now owns 4,343,789 shares of the company worth $75,756,000 after purchasing an additional 139,136 shares during the period. Wellington Management Group LLP increased its stake in WideOpenWest by 13.1% in the first quarter. Wellington Management Group LLP now owns 3,856,319 shares of the company worth $67,255,000 after purchasing an additional 445,917 shares during the period. Brown Advisory Inc. increased its stake in WideOpenWest shares by 8.4% in Q1. Brown Advisory Inc. now owns 2,208,970 shares of the company worth $38,774,000 after acquiring an additional 171,588 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in WideOpenWest by 328.1% during the first quarter. The Manufacturers Life Insurance Company now owns 1,282,517 shares of the company worth $22,367,000 after acquiring an additional 982,931 shares in the last quarter. Hedge funds and other institutional investors hold 85.61% of the company’s shares.

WideOpenWest is trading down 1.7%

NYSE: WOW opened at $17.84 on Wednesday. The company’s 50-day moving average is $19.08 and its 200-day moving average is $19.11. WideOpenWest has a 12 month minimum of $15.96 and a 12 month maximum of $23.92. The stock has a market capitalization of $1.57 billion, a PE ratio of 1.93 and a beta of 1.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt ratio of 1.25.

WideOpenWest (NYSE:WOW – Get Rating) last released its quarterly results on Monday, May 9. The company reported earnings per share of $0.07 for the quarter, missing the consensus estimate of $0.10 per ($0.03). WideOpenWest had a negative return on equity of 12.36% and a net margin of 83.12%. The company posted revenue of $174.60 million for the quarter, versus a consensus estimate of $172.90 million. In the same quarter a year earlier, the company posted EPS of $0.11. The company’s revenue decreased by 3.8% compared to the same quarter last year. Sell-side analysts expect WideOpenWest to post earnings per share of 0.34 for the current year.

About WideOpenWest

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WideOpenWest, Inc provides high-speed data, cable television and digital telephone services to residential and business customers in the United States. Its video services include basic cable services which include local television and local community programming; digital cable services; WOW tv+ which offers traditional cable video and cloud DVR functionality, voice remote control with Google Assistant and Netflix integration as well as access to various streaming services and apps through the Google Play Store; and ultra-video products, as well as commercial-free movies, TV shows, sports and other special event entertainment programs.

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