S. Muoio Lowers stake in Cincinnati Bell (CBB)

Cincinnati Bell (CBB) : S. Muoio reduced its stake in Cincinnati Bell by 11.67% during the most recent quarter end. The investment management company now holds a total of 652,131 shares of Cincinnati Bell which is valued at $2,960,675 after selling 86,166 shares in Cincinnati Bell , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Cincinnati Bell makes up approximately 1.49% of S. Muoio’s portfolio.

Other Hedge Funds, Including , Ironsides Asset Advisors sold out all of its stake in CBB during the most recent quarter. The investment firm sold 144,454 shares of CBB which is valued $655,821.Teacher Retirement System Of Texas boosted its stake in CBB in the latest quarter, The investment management firm added 3,035 additional shares and now holds a total of 26,286 shares of Cincinnati Bell which is valued at $124,596. Pinnacle Wealth Management Advisory Group added CBB to its portfolio by purchasing 11,750 company shares during the most recent quarter which is valued at $56,400. Cincinnati Bell makes up approx 0.04% of Pinnacle Wealth Management Advisory Group’s portfolio.First Quadrant L Pca boosted its stake in CBB in the latest quarter, The investment management firm added 75,000 additional shares and now holds a total of 311,600 shares of Cincinnati Bell which is valued at $1,489,448. Cincinnati Bell makes up approx 0.03% of First Quadrant L Pca’s portfolio.

Cincinnati Bell closed down -0.1 points or -2.29% at $4.26 with 8,07,927 shares getting traded on Friday. Post opening the session at $4.33, the shares hit an intraday low of $4.23 and an intraday high of $4.34 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Cincinnati Bell reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.01. The company had revenue of $299.20 million for the quarter, compared to analysts expectations of $295.29 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

Many Wall Street Analysts have commented on Cincinnati Bell. Cincinnati Bell was Downgraded by Raymond James to ” Mkt Perform” on Aug 8, 2016.

Cincinnati Bell Inc. along with its consolidated subsidiaries is a provider of integrated communications solutions in the Greater Cincinnati area. The Company has operations within three segments: Wireline IT Services and Hardware and Wireless. The Wireline segment provides products and services such as data transport high-speed internet entertainment local voice long distance VoIP and other services. The IT Services and Hardware segment provides managed IT solutions including managed infrastructure services IT and telephony equipment sales and professional IT staffing services. Cincinnati Bell Wireless LLC provides digital wireless voice and data communications services through the operation of a Global System for Mobile Communications/General Packet Radio Service network with a 3G Universal Mobile Telecommunications System and 4G High Speed Packet Access+ network overlay which is able to provide high-speed data services such as streaming video.

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