Royce & Associates LP Sells 274,238 Shares of Windstream Holdings Inc (WIN)
Royce & Associates LP cut its position in Windstream Holdings Inc (NYSE:WIN) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,913,618 shares of the company’s stock after selling 274,238 shares during the quarter. Royce & Associates LP owned about 1.00% of Windstream Holdings worth $7,425,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of WIN. Lapides Asset Management LLC lifted its position in Windstream Holdings by 45.5% in the 2nd quarter. Lapides Asset Management LLC now owns 26,232 shares of the company’s stock valued at $102,000 after purchasing an additional 8,200 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Windstream Holdings in the 1st quarter valued at about $114,000. Stevens Capital Management LP bought a new stake in Windstream Holdings in the 1st quarter valued at about $117,000. Great West Life Assurance Co. Can lifted its position in Windstream Holdings by 142.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 21,720 shares of the company’s stock valued at $118,000 after purchasing an additional 12,774 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Windstream Holdings in the 1st quarter valued at about $120,000.
In other Windstream Holdings news, Director Anthony W. Thomas bought 25,381 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $1.97 per share, for a total transaction of $50,000.57. Following the transaction, the director now owns 637,006 shares in the company, valued at approximately $1,254,901.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alan L. Wells bought 68,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average price of $2.10 per share, for a total transaction of $142,800.00. Following the completion of the transaction, the director now owns 157,971 shares in the company, valued at approximately $331,739.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 95,381 shares of company stock worth $196,901.
Several analysts recently weighed in on the stock. Deutsche Bank AG cut their price objective on shares of Windstream Holdings from $7.00 to $3.00 and set a “hold” rating on the stock in a research report on Tuesday, August 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $2.40 price objective (down from $5.00) on shares of Windstream Holdings in a research report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Windstream Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Bank of America Corporation downgraded shares of Windstream Holdings from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $8.00 to $3.00 in a research report on Friday, August 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $2.50 price target (down from $5.00) on shares of Windstream Holdings in a research report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $4.65.
Windstream Holdings Inc (WIN) opened at 2.16 on Tuesday. The stock has a 50 day moving average of $2.75 and a 200 day moving average of $4.64. The firm’s market cap is $412.19 million. Windstream Holdings Inc has a 52 week low of $1.87 and a 52 week high of $10.45.
Windstream Holdings (NYSE:WIN) last released its earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.08. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts anticipate that Windstream Holdings Inc will post ($1.98) EPS for the current year.
Windstream Holdings declared that its board has initiated a share repurchase plan on Thursday, August 3rd that allows the company to buyback $90.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 19.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Windstream Holdings Company Profile
Windstream Holdings, Inc provides network communications and technology solutions in the United States. Its ILEC Consumer and Small Business segment offers consumer services, including high-speed Internet access; Internet security services; online backup services; basic local telephone services and long-distance services, as well as call waiting, caller identification, call forwarding, and other services; and video services, as well as owns and operates cable television franchises, and sells and leases equipment to support its consumer high-speed Internet and voice services.
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