Cincinnati Bell Inc. (NYSE:CBB) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 5,400,000 shares, an increase of 8.0% from the May 31st total of 5,000,000 shares. Based on an average daily volume of 895,500 shares, the days-to-cover ratio is presently 6.0 days. Approximately 11.0% of the shares of the stock are short sold.
Shares of NYSE CBB opened at $14.96 on Friday. The firm’s 50-day simple moving average is $14.76 and its 200 day simple moving average is $12.88. Cincinnati Bell has a 12-month low of $3.19 and a 12-month high of $16.05.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Tuesday, May 5th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.32. The business had revenue of $380.00 million for the quarter.
A number of institutional investors have recently added to or reduced their stakes in CBB. Barclays PLC lifted its position in Cincinnati Bell by 2,146.4% during the 4th quarter. Barclays PLC now owns 1,131,245 shares of the utilities provider’s stock valued at $11,845,000 after purchasing an additional 1,080,887 shares during the period. Pentwater Capital Management LP acquired a new position in Cincinnati Bell during the 1st quarter valued at about $12,628,000. CNH Partners LLC lifted its position in Cincinnati Bell by 192.1% during the 1st quarter. CNH Partners LLC now owns 1,186,793 shares of the utilities provider’s stock valued at $17,375,000 after purchasing an additional 780,432 shares during the period. FIL Ltd acquired a new position in Cincinnati Bell during the 4th quarter valued at about $7,853,000. Finally, IndexIQ Advisors LLC acquired a new position in Cincinnati Bell during the 1st quarter valued at about $9,516,000. Institutional investors own 94.38% 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, as well as long distance, digital trunking, switched access, and other value-added services, such as caller identification, voicemail, call waiting, and call return.
Read More: Example of operating income, EBIT and EBITDA
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