Cincinnati Bell (CBB) Downgraded by ValuEngine to Strong Sell
ValuEngine lowered shares of Cincinnati Bell (NYSE:CBB) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning.
Other analysts have also recently issued research reports about the stock. Morgan Stanley restated an equal weight rating on shares of Cincinnati Bell in a research report on Saturday, June 2nd. UBS Group cut shares of Cincinnati Bell from a buy rating to a hold rating and set a $18.00 price objective for the company. in a research report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $17.00.
CBB opened at $11.55 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 1.94 and a debt-to-equity ratio of -6.71. Cincinnati Bell has a 12 month low of $9.90 and a 12 month high of $22.20.
In related news, VP Christopher J. Wilson bought 2,041 shares of Cincinnati Bell stock in a transaction that occurred on Tuesday, May 29th. The stock was purchased at an average cost of $12.58 per share, with a total value of $25,675.78. Following the purchase, the vice president now owns 53,764 shares in the company, valued at $676,351.12. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 3,614 shares of company stock valued at $46,127. Company insiders own 1.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Deutsche Bank AG raised its holdings in Cincinnati Bell by 123.8% in the 4th quarter. Deutsche Bank AG now owns 100,704 shares of the utilities provider’s stock valued at $2,098,000 after acquiring an additional 55,715 shares during the period. Two Sigma Advisers LP raised its holdings in Cincinnati Bell by 50.4% in the 4th quarter. Two Sigma Advisers LP now owns 22,385 shares of the utilities provider’s stock valued at $467,000 after acquiring an additional 7,500 shares during the period. Teachers Advisors LLC raised its holdings in Cincinnati Bell by 4.6% in the 4th quarter. Teachers Advisors LLC now owns 80,876 shares of the utilities provider’s stock valued at $1,686,000 after acquiring an additional 3,585 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Cincinnati Bell by 19.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 244,108 shares of the utilities provider’s stock valued at $5,090,000 after acquiring an additional 40,001 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in Cincinnati Bell in the 4th quarter valued at about $407,000. Institutional investors own 86.97% of the company’s stock.
About Cincinnati Bell
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, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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