Windstream Holdings Inc (WIN) Director Alan L. Wells Buys 68,000 Shares
Windstream Holdings Inc (NYSE:WIN) Director Alan L. Wells bought 68,000 shares of the company’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 acquisition, the director now owns 157,971 shares of the company’s stock, valued at approximately $331,739.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Windstream Holdings Inc (WIN) traded down 3.79% during trading on Friday, reaching $2.03. 4,561,763 shares of the company were exchanged. The company’s 50-day moving average price is $3.53 and its 200-day moving average price is $5.26. Windstream Holdings Inc has a 1-year low of $2.00 and a 1-year high of $10.46. The stock’s market capitalization is $387.38 million.
Windstream Holdings (NYSE:WIN) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.08. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company posted $0.01 EPS. Windstream Holdings’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Windstream Holdings Inc will post ($2.03) EPS for the current year.
Windstream Holdings announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that allows the company to repurchase $90.00 million in shares. This repurchase authorization allows the company to buy up to 19.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Windstream Holdings by 90.4% in the first quarter. Vanguard Group Inc. now owns 29,720,851 shares of the company’s stock valued at $161,979,000 after buying an additional 14,107,517 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Windstream Holdings by 61,577.1% in the first quarter. BlackRock Inc. now owns 19,160,595 shares of the company’s stock valued at $104,426,000 after buying an additional 19,129,529 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Windstream Holdings by 137.1% in the first quarter. Renaissance Technologies LLC now owns 10,854,236 shares of the company’s stock valued at $59,156,000 after buying an additional 6,276,636 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Windstream Holdings by 278.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,373,705 shares of the company’s stock valued at $29,286,000 after buying an additional 3,953,429 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Windstream Holdings by 61.1% in the first quarter. JPMorgan Chase & Co. now owns 5,334,858 shares of the company’s stock valued at $29,076,000 after buying an additional 2,023,641 shares during the last quarter.
A number of analysts have recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $5.00 target price (down from $9.00) on shares of Windstream Holdings in a report on Wednesday, June 14th. Raymond James Financial, Inc. upgraded shares of Windstream Holdings from an “underperform” rating to an “outperform” rating and set a $5.25 target price for the company in a report on Wednesday, May 17th. Zacks Investment Research lowered shares of Windstream Holdings from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Citigroup Inc. dropped their target price on shares of Windstream Holdings from $5.25 to $4.00 and set a “neutral” rating for the company in a report on Thursday, July 13th. Finally, Bank of America Corporation lowered shares of Windstream Holdings from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $8.00 to $3.00 in a report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.30.
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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