Cincinnati Bell (NYSE:CBB) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.
Separately, Wells Fargo & Co raised their price objective on shares of Cincinnati Bell to $15.00 and gave the stock an “outperform” rating in a report on Thursday, September 6th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.33.
Shares of Cincinnati Bell stock opened at $12.80 on Thursday. Cincinnati Bell has a fifty-two week low of $9.90 and a fifty-two week high of $22.20.
In other news, Director Phillip R. Cox sold 14,597 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $12.60, for a total transaction of $183,922.20. Following the completion of the transaction, the director now directly owns 9,216 shares of the company’s stock, valued at approximately $116,121.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in CBB. Russell Investments Group Ltd. bought a new position in shares of Cincinnati Bell during the 3rd quarter worth about $127,000. Piedmont Investment Advisors LLC bought a new position in shares of Cincinnati Bell during the 2nd quarter worth about $155,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Cincinnati Bell during the 3rd quarter worth about $191,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Cincinnati Bell by 31.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,448 shares of the utilities provider’s stock worth $290,000 after acquiring an additional 4,449 shares during the period. Finally, Aperio Group LLC lifted its holdings in shares of Cincinnati Bell by 48.5% during the 2nd quarter. Aperio Group LLC now owns 19,741 shares of the utilities provider’s stock worth $310,000 after acquiring an additional 6,448 shares during the period. 74.41% of the stock is owned by institutional investors.
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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