Cincinnati Bell Inc. (NYSE:CBB) CFO Andrew R. Kaiser purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was bought at an average price of $19.10 per share, for a total transaction of $19,100.00. Following the purchase, the chief financial officer now owns 5,889 shares in the company, valued at approximately $112,479.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Cincinnati Bell Inc. (NYSE:CBB) traded down 0.79% on Monday, reaching $18.95. 213,741 shares of the company were exchanged. The company’s 50 day moving average is $20.46 and its 200 day moving average is $20.71. Cincinnati Bell Inc. has a 12-month low of $17.33 and a 12-month high of $25.65. The firm has a market capitalization of $798.33 million, a PE ratio of 8.70 and a beta of 1.77.
Cincinnati Bell (NYSE:CBB) last released its quarterly earnings data on Wednesday, February 15th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. Cincinnati Bell had a net margin of 11.43% and a negative return on equity of 4.95%. The business earned $285.30 million during the quarter, compared to the consensus estimate of $304.02 million. During the same period last year, the business posted $0.05 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that Cincinnati Bell Inc. will post ($0.16) earnings per share for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Princeton Alpha Management LP acquired a new position in Cincinnati Bell during the third quarter worth $112,000. Diamond Hill Capital Management Inc. raised its position in Cincinnati Bell by 7.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,343,792 shares of the company’s stock worth $5,483,000 after buying an additional 94,289 shares during the period. First Trust Advisors LP raised its position in Cincinnati Bell by 7.0% in the third quarter. First Trust Advisors LP now owns 393,236 shares of the company’s stock worth $1,604,000 after buying an additional 25,599 shares during the period. BlackRock Investment Management LLC raised its position in Cincinnati Bell by 0.7% in the third quarter. BlackRock Investment Management LLC now owns 965,804 shares of the company’s stock worth $3,940,000 after buying an additional 6,652 shares during the period. Finally, SECOR Capital Advisors LP raised its position in Cincinnati Bell by 8.0% in the third quarter. SECOR Capital Advisors LP now owns 117,210 shares of the company’s stock worth $478,000 after buying an additional 8,673 shares during the period.
CBB has been the topic of a number of research reports. Drexel Hamilton initiated coverage on shares of Cincinnati Bell in a research note on Wednesday, November 23rd. They issued a “buy” rating and a $25.00 price target on the stock. Citigroup Inc lowered shares of Cincinnati Bell from a “market perform” rating to an “underperform” rating in a research note on Tuesday, December 6th. They noted that the move was a valuation call. Finally, Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Cincinnati Bell in a research note on Tuesday, December 6th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.25.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments. The Entertainment and Communications segment provides products and services, such as high-speed Internet, data transport local voice, long distance, voice over Internet protocol (VoIP), video and other services.
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