Cincinnati Bell Inc (CBB) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 8,696,221 to 8,441,947 shares, with 12 days to go before the expiry. The short open interest has decreased by -2.9%, amounting to a reduction of -254,274 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 4.1% of the float of the company. The average daily volume of the stock is 679,600 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Cincinnati Bell Inc (NYSE:CBB): The stock opened at $4.26 on Wednesday but the bulls could not build on the opening and the stock topped out at $4.31 for the day. The stock traded down to $4.16 during the day, due to lack of any buying support eventually closed down at $4.16 with a loss of -2.12% for the day. The stock had closed at $4.25 on the previous day. The total traded volume was 508,470 shares.
In a related news, The Securities and Exchange Commission has divulged that Wilson Christopher J, officer (VP, General Counsel) of Cincinnati Bell Inc, had unloaded 30,000 shares at an average price of $3.7 in a transaction dated on August 8, 2016. The total value of the transaction was worth $111,000.
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.