An issue of Windstream Holdings Inc (NYSE:WIN) bonds fell 1.3% against their face value during trading on Tuesday. The high-yield debt issue has a 6.375% coupon and will mature on August 1, 2023. The debt is now trading at $80.96 and was trading at $83.13 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.
A number of research analysts have commented on the stock. UBS AG restated a “sell” rating and set a $2.00 price target (down previously from $4.00) on shares of Windstream Holdings in a research note on Monday, August 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $2.50 price objective (down previously from $5.00) on shares of Windstream Holdings in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Windstream Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Deutsche Bank AG dropped their price objective on shares of Windstream Holdings from $7.00 to $3.00 and set a “hold” rating for the company in a report on Tuesday, August 8th. Finally, Bank of America Corporation lowered shares of Windstream Holdings from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $8.00 to $3.00 in a report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $4.89.
Shares of Windstream Holdings Inc (NYSE WIN) traded up 3.13% during mid-day trading on Friday, hitting $1.98. 4,738,544 shares of the company were exchanged. The company’s 50-day moving average price is $3.23 and its 200-day moving average price is $5.04. Windstream Holdings Inc has a 12-month low of $1.87 and a 12-month high of $10.46. The firm’s market capitalization is $377.84 million.
Windstream Holdings (NYSE:WIN) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.08. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that Windstream Holdings Inc will post ($1.98) earnings per share for the current fiscal year.
Windstream Holdings declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 3rd that allows the company to repurchase $90.00 million in shares. This repurchase authorization allows the company to purchase up to 19.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board 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 bought at an average cost of $1.97 per share, for a total transaction of $50,000.57. Following the completion of the transaction, the director now directly owns 637,006 shares in the company, valued at approximately $1,254,901.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, 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. Over the last 90 days, insiders acquired 95,381 shares of company stock valued at $196,901.
Large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in Windstream Holdings by 79.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 74,808 shares of the company’s stock valued at $290,000 after buying an additional 33,050 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Windstream Holdings by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 149,713 shares of the company’s stock valued at $581,000 after buying an additional 8,543 shares during the period. PineView Asset Management LP boosted its stake in Windstream Holdings by 263.6% in the second quarter. PineView Asset Management LP now owns 1,091,757 shares of the company’s stock valued at $4,236,000 after buying an additional 791,517 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Windstream Holdings by 175.5% in the second quarter. Cubist Systematic Strategies LLC now owns 29,780 shares of the company’s stock valued at $116,000 after buying an additional 18,969 shares in the last quarter. Finally, State Street Corp raised its position in shares of Windstream Holdings by 10.3% in the second quarter. State Street Corp now owns 4,526,499 shares of the company’s stock valued at $17,565,000 after buying an additional 422,934 shares in the last quarter.
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About Windstream Holdings
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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