Cincinnati Bell (CBB) Position Increased by Deutsche Bank AG
Deutsche Bank AG increased its position in shares of Cincinnati Bell (NYSE:CBB) by 123.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,704 shares of the utilities provider’s stock after buying an additional 55,715 shares during the period. Deutsche Bank AG owned 0.24% of Cincinnati Bell worth $2,098,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Cincinnati Bell by 1.3% during the fourth quarter. BlackRock Inc. now owns 6,194,055 shares of the utilities provider’s stock worth $129,146,000 after buying an additional 77,719 shares in the last quarter. Kennedy Capital Management Inc. boosted its holdings in Cincinnati Bell by 74.2% during the fourth quarter. Kennedy Capital Management Inc. now owns 326,172 shares of the utilities provider’s stock worth $6,801,000 after buying an additional 138,970 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Cincinnati Bell by 3.8% during the third quarter. California Public Employees Retirement System now owns 198,047 shares of the utilities provider’s stock worth $3,931,000 after buying an additional 7,267 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Cincinnati Bell during the fourth quarter worth $250,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Cincinnati Bell by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,628,621 shares of the utilities provider’s stock worth $32,329,000 after buying an additional 31,489 shares in the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.
CBB opened at $15.15 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.86 and a debt-to-equity ratio of -6.35. The firm has a market cap of $652.87, a price-to-earnings ratio of -189.38 and a beta of 1.55. Cincinnati Bell has a 52-week low of $13.00 and a 52-week high of $22.20.
A number of brokerages recently issued reports on CBB. ValuEngine downgraded shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Morgan Stanley lowered their price target on shares of Cincinnati Bell from $24.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, March 19th. Finally, TheStreet downgraded shares of Cincinnati Bell from a “c-” rating to a “d+” rating in a report on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.
In related news, CFO Andrew R. Kaiser acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $15.90 per share, with a total value of $47,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 24,280 shares in the company, valued at approximately $386,052. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher J. Wilson acquired 2,959 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $14.45 per share, for a total transaction of $42,757.55. Following the completion of the acquisition, the vice president now owns 51,723 shares of the company’s stock, valued at $747,397.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 7,334 shares of company stock worth $110,450. Insiders own 1.40% of the company’s stock.
Cincinnati Bell Company Profile
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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