Css LLC Il cut its position in Cincinnati Bell Inc (NYSE:CBB) by 21.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,361 shares of the company’s stock after selling 23,000 shares during the period. Css LLC Il owned about 0.20% of Cincinnati Bell worth $344,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of CBB. First Allied Advisory Services Inc. acquired a new position in shares of Cincinnati Bell during the second quarter worth approximately $103,000. Guggenheim Capital LLC increased its position in shares of Cincinnati Bell by 9.7% in the second quarter. Guggenheim Capital LLC now owns 23,553 shares of the company’s stock worth $108,000 after buying an additional 2,088 shares during the period. Princeton Alpha Management LP acquired a new position in shares of Cincinnati Bell during the third quarter worth approximately $112,000. Amalgamated Bank increased its position in shares of Cincinnati Bell by 11.2% in the second quarter. Amalgamated Bank now owns 25,038 shares of the company’s stock worth $117,000 after buying an additional 2,513 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Cincinnati Bell by 13.1% in the second quarter. Teacher Retirement System of Texas now owns 26,286 shares of the company’s stock worth $120,000 after buying an additional 3,035 shares during the period.
Cincinnati Bell Inc (NYSE:CBB) traded down 0.88% during trading on Wednesday, reaching $22.60. 90,270 shares of the company’s stock traded hands. Cincinnati Bell Inc has a 12-month low of $14.20 and a 12-month high of $25.65. The company has a 50 day moving average price of $22.12 and a 200-day moving average price of $21.44. The company has a market cap of $949.77 million, a PE ratio of 7.62 and a beta of 1.82.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Wednesday, November 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.33. Cincinnati Bell had a net margin of 11.43% and a negative return on equity of 4.95%. The firm earned $312.40 million during the quarter, compared to the consensus estimate of $300.03 million. During the same period in the previous year, the firm earned $0.37 earnings per share. Cincinnati Bell’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Cincinnati Bell Inc will post $0.24 EPS for the current fiscal year.
CBB has been the subject of a number of recent research reports. Drexel Hamilton initiated coverage on shares of Cincinnati Bell in a research note on Wednesday, November 23rd. They issued a “buy” rating and a $25.00 price objective for the company. Gabelli raised shares of Cincinnati Bell from a “hold” rating to a “buy” rating in a report on Thursday, October 6th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Cincinnati Bell in a report on Tuesday, December 6th. Finally, Citigroup Inc. lowered shares of Cincinnati Bell from a “market perform” rating to an “underperform” rating in a report on Tuesday, December 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $21.25.
In related news, CEO Theodore H. Torbeck sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $23.68, for a total value of $947,200.00. Following the completion of the sale, the chief executive officer now directly owns 197,535 shares in the company, valued at $4,677,628.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments. The Entertainment and Communications segment provides products and services, such as high-speed Internet, data transport local voice, long distance, voice over Internet protocol (VoIP), video and other services.
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