Royal Bank of Canada Trims Holdings in Windstream Holdings Inc (WIN)
Royal Bank of Canada decreased its position in Windstream Holdings Inc (NYSE:WIN) by 9.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,476 shares of the company’s stock after selling 11,674 shares during the quarter. Royal Bank of Canada owned 0.06% of Windstream Holdings worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in WIN. Russell Investments Group Ltd. increased its stake in Windstream Holdings by 47.4% in the 1st quarter. Russell Investments Group Ltd. now owns 23,559 shares of the company’s stock worth $128,000 after acquiring an additional 7,576 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Windstream Holdings by 61.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 147,392 shares of the company’s stock worth $803,000 after acquiring an additional 55,837 shares during the last quarter. Alliancebernstein L.P. increased its stake in Windstream Holdings by 53.0% in the 1st quarter. Alliancebernstein L.P. now owns 335,774 shares of the company’s stock worth $1,830,000 after acquiring an additional 116,348 shares during the last quarter. Principal Financial Group Inc. increased its stake in Windstream Holdings by 37.4% in the 1st quarter. Principal Financial Group Inc. now owns 27,144 shares of the company’s stock worth $148,000 after acquiring an additional 7,394 shares during the last quarter. Finally, FMR LLC increased its stake in Windstream Holdings by 52.9% in the 1st quarter. FMR LLC now owns 2,743,849 shares of the company’s stock worth $14,954,000 after acquiring an additional 949,813 shares during the last quarter.
Windstream Holdings Inc (WIN) opened at $2.04 on Tuesday.
Windstream Holdings (NYSE:WIN) last released its earnings results on Thursday, November 9th. The company reported ($0.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.15). The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.72) earnings per share.
Windstream Holdings declared that its board has initiated a share buyback plan on Thursday, August 3rd that allows the company to buyback $90.00 million in shares. This buyback authorization allows the company to buy up to 19.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have issued reports on WIN. Deutsche Bank AG reduced their price objective on Windstream Holdings from $7.00 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, August 8th. Citigroup Inc. reduced their price objective on Windstream Holdings from $2.75 to $2.25 and set a “neutral” rating on the stock in a research note on Friday. Zacks Investment Research raised Windstream Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised Windstream Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $2.50 target price (down previously from $5.00) on shares of Windstream Holdings in a research report on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.42.
In other Windstream Holdings news, Director Anthony W. Thomas acquired 25,381 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average price of $1.97 per share, for a total transaction of $50,000.57. Following the acquisition, the director now directly owns 637,006 shares in the company, valued at $1,254,901.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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Windstream Holdings 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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