Squarepoint Ops LLC grew its position in shares of Cincinnati Bell Inc. (NYSE:CBB) by 75.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,432 shares of the utilities provider’s stock after purchasing an additional 14,776 shares during the quarter. Squarepoint Ops LLC owned about 0.07% of Cincinnati Bell worth $268,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Highbridge Capital Management LLC purchased a new position in shares of Cincinnati Bell in the 4th quarter worth about $664,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of Cincinnati Bell by 41.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 360,675 shares of the utilities provider’s stock worth $2,806,000 after buying an additional 105,602 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Cincinnati Bell by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 407,282 shares of the utilities provider’s stock worth $3,169,000 after buying an additional 2,295 shares during the last quarter. Mackay Shields LLC boosted its holdings in shares of Cincinnati Bell by 7.3% in the 4th quarter. Mackay Shields LLC now owns 48,499 shares of the utilities provider’s stock worth $378,000 after buying an additional 3,307 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Cincinnati Bell by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 544,878 shares of the utilities provider’s stock worth $4,239,000 after buying an additional 22,481 shares during the last quarter. Hedge funds and other institutional investors own 94.41% of the company’s stock.
A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Morgan Stanley raised shares of Cincinnati Bell from an “underweight” rating to an “equal weight” rating and set a $10.00 price target on the stock in a report on Friday, February 15th.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings results on Thursday, February 14th. The utilities provider reported ($0.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.41). The company had revenue of $399.00 million for the quarter, compared to the consensus estimate of $391.49 million. The business’s revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) earnings per share. As a group, equities analysts expect that Cincinnati Bell Inc. will post -0.55 EPS for the current year.
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Cincinnati Bell Company Profile
Cincinnati Bell Inc, together with its subsidiaries, provides diversified telecommunications and technology services to residential and business customers in the United States. It operates in two segments, Entertainment and Communications, and IT Services and Hardware. The Entertainment and Communications segment offers data services, including high-speed Internet access, data transport, and interconnection services, as well as metro-Ethernet products; and voice local services, as well as long distance, digital trunking, switched access, and other value-added services, such as caller identification, voicemail, call waiting, and call return.
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