Public Employees Retirement Association of Colorado Has $190,000 Stake in Cincinnati Bell Inc (CBB)

Public Employees Retirement Association of Colorado maintained its stake in Cincinnati Bell Inc (NYSE:CBB) during the first quarter, Holdings Channel reports. The fund owned 10,732 shares of the utilities provider’s stock at the end of the first quarter. Public Employees Retirement Association of Colorado’s holdings in Cincinnati Bell were worth $190,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CBB. First Trust Advisors LP purchased a new position in shares of Cincinnati Bell during the first quarter worth approximately $777,000. Great West Life Assurance Co. Can increased its position in shares of Cincinnati Bell by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 57,242 shares of the utilities provider’s stock worth $1,010,000 after buying an additional 4,661 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Cincinnati Bell by 50.7% in the first quarter. Nationwide Fund Advisors now owns 73,070 shares of the utilities provider’s stock worth $1,293,000 after buying an additional 24,592 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Cincinnati Bell by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,180 shares of the utilities provider’s stock worth $304,000 after buying an additional 300 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Cincinnati Bell during the fourth quarter worth approximately $4,150,000. Hedge funds and other institutional investors own 82.28% of the company’s stock.

Institutional Ownership by Quarter for Cincinnati Bell (NYSE:CBB)

Cincinnati Bell Inc (NYSE:CBB) opened at 18.70 on Tuesday. The firm’s 50-day moving average is $17.56 and its 200-day moving average is $19.72. Cincinnati Bell Inc has a 12 month low of $16.05 and a 12 month high of $25.65. The stock has a market cap of $787.91 million, a P/E ratio of 5.42 and a beta of 1.69.

Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Tuesday, May 9th. The utilities provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by $0.60. Cincinnati Bell had a net margin of 13.23% and a negative return on equity of 3.12%. The company had revenue of $278 million for the quarter, compared to the consensus estimate of $291.68 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Cincinnati Bell’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities analysts forecast that Cincinnati Bell Inc will post $1.04 earnings per share for the current fiscal year.

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A number of brokerages have commented on CBB. Morgan Stanley restated an “equal weight” rating and set a $22.00 price objective (down previously from $25.00) on shares of Cincinnati Bell in a research report on Wednesday, June 14th. ValuEngine downgraded shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Four research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Cincinnati Bell presently has a consensus rating of “Hold” and an average price target of $21.08.

About Cincinnati Bell

Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CBB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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).

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