State Board of Administration of Florida Retirement System decreased its position in shares of Cincinnati Bell Inc. (NYSE:CBB) by 80.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,981 shares of the utilities provider’s stock after selling 183,924 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Cincinnati Bell worth $1,028,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Alpha Management LP purchased a new position in shares of Cincinnati Bell during the third quarter valued at approximately $112,000. Municipal Employees Retirement System of Michigan boosted its stake in Cincinnati Bell by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 46,700 shares of the utilities provider’s stock valued at $191,000 after buying an additional 210 shares during the period. BlackRock Inc. boosted its stake in Cincinnati Bell by 1.0% in the third quarter. BlackRock Inc. now owns 60,573 shares of the utilities provider’s stock valued at $248,000 after buying an additional 617 shares during the period. Aperio Group LLC boosted its stake in Cincinnati Bell by 2.9% in the third quarter. Aperio Group LLC now owns 62,920 shares of the utilities provider’s stock valued at $257,000 after buying an additional 1,801 shares during the period. Finally, Lucus Advisors LLC bought a new stake in Cincinnati Bell during the third quarter valued at $262,000.
Cincinnati Bell Inc. (NYSE:CBB) traded up 0.27% during mid-day trading on Friday, hitting $18.45. 129,272 shares of the stock traded hands. Cincinnati Bell Inc. has a 12 month low of $16.75 and a 12 month high of $25.65. The company has a market cap of $777.26 million, a P/E ratio of 8.47 and a beta of 1.77. The company’s 50 day moving average is $18.28 and its 200 day moving average is $20.29.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Wednesday, February 15th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.01. The company earned $285.30 million during the quarter, compared to analysts’ expectations of $304.02 million. Cincinnati Bell had a net margin of 11.43% and a negative return on equity of 4.95%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. On average, analysts expect that Cincinnati Bell Inc. will post ($0.17) earnings per share for the current fiscal year.
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Cincinnati Bell Company 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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