Insider Selling: Spencer Hays Sells 45,000 Shares of tw telecom inc. Stock (TWTC)
tw telecom inc. (NASDAQ:TWTC) Director Spencer Hays sold 45,000 shares of the stock on the open market in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.24, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now directly owns 73,244 shares of the company’s stock, valued at approximately $2,214,899. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on TWTC. Analysts at Gabelli downgraded shares of tw telecom inc. from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, September 11th. Separately, analysts at Janco Partners initiated coverage on shares of tw telecom inc. in a research note to investors on Friday, September 6th. They set a “buy” rating and a $36.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of tw telecom inc. in a research note to investors on Wednesday, August 21st. They now have a $35.00 price target on the stock, up previously from $30.00. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $34.15.
Shares of tw telecom inc. (NASDAQ:TWTC) remained flat at $29.69 during during mid-day trading trading on Wednesday. 982,439 shares of the company’s stock traded hands. tw telecom inc. has a 52 week low of $23.65 and a 52 week high of $30.70. The stock has a 50-day moving average of $29.49 and a 200-day moving average of $28.4. The company has a market cap of $4.325 billion and a P/E ratio of 65.98.
tw telecom inc. (NASDAQ:TWTC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.01. The company had revenue of $389.50 million for the quarter, compared to the consensus estimate of $385.86 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that tw telecom inc. will post $0.48 EPS for the current fiscal year.
tw telecom inc. is a national provider of managed network services, specializing in business Ethernet, data networking, Converged, Internet protocol-based virtual private network (NASDAQ:TWTC), Internet access, voice, including voice over Internet Protocol (VoIP), and network security services to enterprise organizations, including public sector entities, and carriers throughout the United States, including their global locations.
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