ENGLEWOOD, CO – Don Schena, the Chief Customer Experience Officer of WideOpenWest, Inc. (NYSE:WOW), recently sold 10,000 shares of the company's common stock, totaling approximately $50,034. The transaction took place on May 3, 2024, and was reported in a filing with the Securities and Exchange Commission on May 7.
The shares were sold at a weighted average price of $5.0034, with individual transactions ranging from $5.00 to $5.015 per share. This price range reflects the weighted average of multiple sales reported on the same line of the filing. The company has stated that upon request, full information regarding the number of shares sold at each separate price can be provided to the SEC staff, the issuer, or any security holder of the issuer.
Following the sale, Schena retains ownership of 286,413 shares of WideOpenWest, indicating a continued investment in the company's future. The sale was conducted under a Rule 10b5-1 trading plan, which was adopted by Schena on November 11, 2023. This type of plan allows company insiders to sell shares over a predetermined period of time, providing a defense against insider trading accusations by predetermining the timing and amount of the sales.
WideOpenWest, Inc., headquartered in Englewood, Colorado, operates in the cable and other pay television services industry. The recent transaction is part of the regular disclosure of stock trades made by the company's executives and is publicly available for investors' scrutiny.
InvestingPro Insights
As WideOpenWest, Inc. (NYSE:WOW) experiences shifts in insider trading dynamics, with Chief Customer Experience Officer Don Schena selling 10,000 shares, investors are keenly observing the company's financial health and market performance. Here are some key insights from InvestingPro that could be valuable for stakeholders:
InvestingPro data reveals a challenging financial landscape for WideOpenWest. The company's market capitalization stands at $385.74 million, reflecting its size and market value. Notably, WideOpenWest has been navigating through a period of negative revenue growth, with the last twelve months as of Q4 2023 showing a decrease of -2.58%. This trend continued into Q4 2023, with a quarterly revenue decline of -6.48%. Despite these headwinds, the company has maintained a gross profit margin of 57.26%, indicating a robust ability to control the cost of goods sold relative to revenue.
An InvestingPro Tip highlights the stock's significant return over the last week, with a price total return of 35.57%. This surge is further supported by strong returns over the last month and three months, at 30.46% and 43.2%, respectively. However, it is important to note that the stock has experienced a considerable decline over the last six months, with a price total return of -37.31%. This volatility underscores the importance of closely monitoring market movements and company fundamentals.
For investors seeking a deeper dive into WideOpenWest's financial metrics and strategic outlook, InvestingPro offers additional tips. Currently, there are 12 more InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/WOW. These tips provide insights on aspects such as the company's debt burden, cash flow, and profitability forecasts. For those interested in leveraging these insights, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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