Mason Street Advisors LLC bought a new position in shares of Cincinnati Bell Inc. (NYSE:CBB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,065 shares of the company’s stock, valued at approximately $188,000.
Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Cincinnati Bell by 5.9% in the second quarter. Vanguard Group Inc. now owns 27,927,150 shares of the company’s stock worth $127,627,000 after buying an additional 1,550,709 shares during the period. BlackRock Fund Advisors raised its stake in Cincinnati Bell by 13.6% in the second quarter. BlackRock Fund Advisors now owns 20,393,608 shares of the company’s stock worth $93,199,000 after buying an additional 2,437,077 shares during the period. Dimensional Fund Advisors LP raised its stake in Cincinnati Bell by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,517,864 shares of the company’s stock worth $34,356,000 after buying an additional 171,629 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Cincinnati Bell by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,445,122 shares of the company’s stock worth $21,073,000 after buying an additional 42,629 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Cincinnati Bell by 2.6% in the second quarter. Principal Financial Group Inc. now owns 1,518,146 shares of the company’s stock worth $6,938,000 after buying an additional 38,772 shares during the period. 79.60% of the stock is owned by institutional investors and hedge funds.
Cincinnati Bell Inc. (NYSE:CBB) opened at 19.50 on Thursday. Cincinnati Bell Inc. has a 52-week low of $14.00 and a 52-week high of $25.65. The stock’s 50 day moving average price is $20.40 and its 200 day moving average price is $20.86. The stock has a market capitalization of $819.66 million, a price-to-earnings ratio of 4.41 and a beta of 1.60.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.35. Cincinnati Bell had a negative return on equity of 5.73% and a net margin of 16.78%. The firm earned $299 million during the quarter, compared to the consensus estimate of $295.79 million. During the same period in the previous year, the firm posted $0.01 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Cincinnati Bell Inc. will post $0.30 EPS for the current year.
A number of equities research analysts have recently issued reports on the company. Bank of America Corp. set a $16.25 price target on Cincinnati Bell and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Cincinnati Bell in a research report on Monday, August 8th. Gabelli upgraded Cincinnati Bell from a “hold” rating to a “buy” rating in a research report on Thursday, October 6th. Finally, Zacks Investment Research lowered Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Monday, August 29th.
In related news, VP Christopher J. Wilson sold 30,000 shares of Cincinnati Bell stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the completion of the transaction, the vice president now directly owns 74,457 shares in the company, valued at approximately $275,490.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.
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.
Want to see what other hedge funds are holding CBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Bell Inc. (NYSE:CBB).
Receive News & Ratings for Cincinnati Bell Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Bell Inc. and related companies with MarketBeat.com's FREE daily email newsletter.