Strs Ohio Lowers stake in Cincinnati Bell (CBB)

Cincinnati Bell (CBB) : Strs Ohio reduced its stake in Cincinnati Bell by 9.32% during the most recent quarter end. The investment management company now holds a total of 204,300 shares of Cincinnati Bell which is valued at $800,856 after selling 21,000 shares in Cincinnati Bell , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Cincinnati Bell makes up approximately 0.05% of Strs Ohio’s portfolio.

Cincinnati Bell opened for trading at $3.87 and hit $3.95 on the upside on Wednesday, eventually ending the session at $3.93, with a gain of 0.77% or 0.03 points. The heightened volatility saw the trading volume jump to 4,63,284 shares. Company has a market cap of $825 M.

Other Hedge Funds, Including , Cornerstone Advisors reduced its stake in CBB by selling 261 shares or 7.23% in the most recent quarter. The Hedge Fund company now holds 3,350 shares of CBB which is valued at $13,132. Cincinnati Bell makes up approx 0.01% of Cornerstone Advisors’s portfolio.Heritage Investors Management Corp reduced its stake in CBB by selling 5,200 shares or 14.77% in the most recent quarter. The Hedge Fund company now holds 30,000 shares of CBB which is valued at $116,100. Cincinnati Bell makes up approx 0.01% of Heritage Investors Management Corp’s portfolio.Creative Planning boosted its stake in CBB in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 3,306 shares of Cincinnati Bell which is valued at $12,596.

On the company’s financial health, Cincinnati Bell reported $0.02 EPS for the quarter, based on the information available during the earnings call on Feb 18, 2016. Analyst had a consensus estimate of $0.02. The company had revenue of $289.30 million for the quarter, compared to analysts expectations of $287.83 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.02 EPS.

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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