ENGLEWOOD, CO—Teresa L. Elder, the Chief Executive Officer of WideOpenWest, Inc. (NYSE:WOW), recently sold 20,000 shares of the company's common stock. The transaction, which took place on November 1, 2024, was conducted under a Rule 10b5-1 trading plan adopted by Elder in December 2023. The shares were sold at a weighted average price of $5.1167, with individual sale prices ranging from $5.07 to $5.16 per share, totaling $102,334.
Following this sale, Elder retains ownership of 1,535,787 shares of WideOpenWest. The sale was part of a pre-established trading plan, allowing executives to sell stock at predetermined times to diversify their holdings and manage their financial planning.
In other recent news, WideOpenWest (WOW) reported mixed results in its Q3 2024 Earnings Call. The company announced a record adjusted EBITDA of $77.3 million, up 9% year-over-year, despite a drop in total revenue by 8.7% to $158 million. A net loss of 4,400 high-speed data (HSD) subscribers was reported, attributed to the end of the Affordable Connectivity Program and hurricane disruptions.
The company has secured a $200 million loan to support its goal of expanding its fiber network, and it plans to increase CapEx for greenfield expansion by $10 million, totaling around $70 million for 2024. Partnerships with services like YouTube TV are part of the company's strategic shift towards broadband and video streaming.
For the full year, WOW projects HSD revenue between $422 million and $426 million, with total revenue between $629 million and $633 million. Despite the challenges, the company remains optimistic about its fiber home expansion and the potential for long-term growth. The company's potential go-private deal with Digital Bridge and Crestview remains unchanged.
InvestingPro Insights
In light of Teresa L. Elder's recent stock sale, it's important to consider WideOpenWest's current financial position and market performance. According to InvestingPro data, WOW's market capitalization stands at $435.04 million, reflecting its position in the telecommunications industry.
The company's revenue for the last twelve months as of Q3 2024 was $647.1 million, with a revenue growth rate of -7.35% over the same period. This aligns with one of the InvestingPro Tips, which indicates that analysts anticipate a sales decline in the current year. Despite this, WOW's EBITDA grew by 31.6% in the same timeframe, suggesting some operational efficiencies.
Another relevant InvestingPro Tip notes that WOW operates with a significant debt burden. This is particularly noteworthy given that short-term obligations exceed liquid assets, which could pose challenges for the company's financial flexibility.
Interestingly, while the company was not profitable over the last twelve months, with a negative P/E ratio of -8.16, analysts predict that WOW will be profitable this year. This forecast could be a factor in the company's year-to-date price total return of 30.86%, despite a -29.99% return over the past year.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 8 more InvestingPro Tips available for WOW, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.