Windstream Holdings Inc (WIN) Bonds Trading 3.6% Higher
An issue of Windstream Holdings Inc (NYSE:WIN) bonds rose 3.6% as a percentage of their face value during trading on Wednesday. The high-yield debt issue has a 6.375% coupon and is set to mature on August 1, 2023. The bonds in the issue are now trading at $68.50 and were trading at $72.50 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.
WIN has been the subject of a number of research reports. Jefferies Group LLC reissued a “hold” rating and set a $2.50 target price on shares of Windstream Holdings in a research note on Thursday, September 7th. Morgan Stanley reissued an “equal weight” rating and set a $5.00 target price (down from $9.00) on shares of Windstream Holdings in a research note on Wednesday, June 14th. Citigroup Inc. lowered their target price on Windstream Holdings from $5.25 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, July 13th. UBS AG reissued a “sell” rating and set a $2.00 target price (down from $4.00) on shares of Windstream Holdings in a research note on Monday, August 14th. Finally, Zacks Investment Research cut Windstream Holdings from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Four equities research 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’s stock. The company presently has an average rating of “Hold” and an average target price of $4.65.
Shares of Windstream Holdings Inc (WIN) traded up 5.14% during trading on Wednesday, hitting $1.84. 4,716,667 shares of the stock traded hands. Windstream Holdings Inc has a 52 week low of $1.75 and a 52 week high of $10.46. The firm’s market cap is $351.12 million. The company has a 50-day moving average of $2.15 and a 200-day moving average of $4.19.
Windstream Holdings (NYSE:WIN) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.37) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.08. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. On average, analysts forecast that Windstream Holdings Inc will post ($2.06) EPS for the current fiscal year.
Windstream Holdings announced that its board has approved a stock buyback plan on Thursday, August 3rd that permits the company to buyback $90.00 million in shares. This buyback authorization permits the company to buy up to 19.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Anthony W. Thomas acquired 25,381 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average price of $1.97 per share, for a total transaction of $50,000.57. Following the completion of the acquisition, the director now directly owns 637,006 shares in the company, valued at approximately $1,254,901.82. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alan L. Wells acquired 68,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were purchased at an average price of $2.10 per share, with a total value of $142,800.00. Following the acquisition, the director now owns 157,971 shares of the company’s stock, valued at $331,739.10. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 95,381 shares of company stock valued at $196,901.
Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its holdings in Windstream Holdings by 15.7% during the second quarter. American Century Companies Inc. now owns 898,278 shares of the company’s stock worth $3,485,000 after buying an additional 121,934 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Windstream Holdings by 61.0% during the first quarter. UBS Asset Management Americas Inc. now owns 147,392 shares of the company’s stock worth $803,000 after buying an additional 55,837 shares in the last quarter. American International Group Inc. grew its holdings in Windstream Holdings by 102.9% during the first quarter. American International Group Inc. now owns 112,077 shares of the company’s stock worth $611,000 after buying an additional 56,849 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Windstream Holdings by 71.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,012,867 shares of the company’s stock worth $10,971,000 after buying an additional 841,275 shares in the last quarter. Finally, Lapides Asset Management LLC grew its holdings in Windstream Holdings by 45.5% during the second quarter. Lapides Asset Management LLC now owns 26,232 shares of the company’s stock worth $102,000 after buying an additional 8,200 shares in the last quarter.
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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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