Swiss National Bank increased its stake in Cincinnati Bell Inc. (NYSE:CBB) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,740 shares of the utilities provider’s stock after acquiring an additional 3,800 shares during the period. Swiss National Bank’s holdings in Cincinnati Bell were worth $1,350,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBB. Public Employees Retirement System of Ohio boosted its position in shares of Cincinnati Bell by 10.3% in the second quarter. Public Employees Retirement System of Ohio now owns 6,511 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 606 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cincinnati Bell in the third quarter worth approximately $136,000. Douglas Lane & Associates LLC acquired a new stake in shares of Cincinnati Bell in the fourth quarter worth approximately $206,000. Teacher Retirement System of Texas acquired a new stake in shares of Cincinnati Bell in the fourth quarter worth approximately $273,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Cincinnati Bell by 58.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,810 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 5,860 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on CBB shares. Morgan Stanley started coverage on shares of Cincinnati Bell in a research report on Thursday, November 30th. They set an “equal weight” rating and a $24.00 price target on the stock. ValuEngine cut shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd.
Cincinnati Bell Inc. (NYSE CBB) opened at $14.95 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 1.99 and a debt-to-equity ratio of -6.35. Cincinnati Bell Inc. has a 12-month low of $14.00 and a 12-month high of $22.20.
Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.24). The business had revenue of $427.10 million for the quarter, compared to analyst estimates of $462.31 million. Cincinnati Bell had a net margin of 2.52% and a negative return on equity of 0.61%. The company’s quarterly revenue was up 49.7% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. equities analysts forecast that Cincinnati Bell Inc. will post -0.33 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Cincinnati Bell Inc. (CBB) Shares Bought by Swiss National Bank” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece of content on another website, it was stolen and republished in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://sportsperspectives.com/2018/03/14/cincinnati-bell-inc-cbb-shares-bought-by-swiss-national-bank.html.
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.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Bell and related companies with MarketBeat.com's FREE daily email newsletter.