Key Points
- Optimum Communications General Counsel Michael Olsen sold 20,000 shares on March 2 at an average price of $1.40 for $28,000, reducing his stake to 1,239,781 shares (a 1.59% decrease); he also sold 250,000 shares on Feb. 17 at $1.60.
- Optimum reported quarterly EPS of ($0.15), missing estimates by $0.14 despite a slight revenue beat, and analysts hold a consensus "Reduce" rating with an average price target of $2.19.
Optimum Communications, Inc. (NYSE:OPTU - Get Free Report) General Counsel Michael Olsen sold 20,000 shares of Optimum Communications stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $1.40, for a total value of $28,000.00. Following the completion of the transaction, the general counsel directly owned 1,239,781 shares in the company, valued at approximately $1,735,693.40. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Michael Olsen also recently made the following trade(s):
- On Tuesday, February 17th, Michael Olsen sold 250,000 shares of Optimum Communications stock. The shares were sold at an average price of $1.60, for a total value of $400,000.00.
Optimum Communications Trading Up 2.4%
Shares of Optimum Communications stock opened at $1.50 on Wednesday. Optimum Communications, Inc. has a 1 year low of $1.38 and a 1 year high of $2.98. The company's fifty day simple moving average is $1.68 and its 200-day simple moving average is $2.00. The company has a market cap of $703.34 million, a price-to-earnings ratio of -0.37 and a beta of 1.51.
Optimum Communications (NYSE:OPTU - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.14). The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the previous year, the business posted ($0.12) earnings per share. Optimum Communications's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts forecast that Optimum Communications, Inc. will post -0.24 earnings per share for the current fiscal year.
Institutional Trading of Optimum Communications
Several large investors have recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd bought a new position in shares of Optimum Communications in the third quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Optimum Communications in the third quarter worth $27,000. Cibc World Markets Corp bought a new stake in shares of Optimum Communications during the fourth quarter worth $29,000. Voleon Capital Management LP acquired a new stake in shares of Optimum Communications in the third quarter valued at $31,000. Finally, Xponance LLC acquired a new position in Optimum Communications during the 4th quarter worth about $34,000. 54.85% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
OPTU has been the topic of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Optimum Communications in a research report on Wednesday, January 21st. Citigroup downgraded shares of Optimum Communications from a "buy" rating to a "neutral" rating in a report on Sunday, February 15th. Zacks Research raised shares of Optimum Communications from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 17th. Evercore set a $2.00 price objective on Optimum Communications in a report on Friday, February 13th. Finally, Benchmark lowered Optimum Communications from a "buy" rating to a "hold" rating in a research note on Tuesday, February 10th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Optimum Communications presently has a consensus rating of "Reduce" and an average price target of $2.19.
Check Out Our Latest Report on Optimum Communications
Optimum Communications Company Profile
(
Get Free Report)
Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to approximately five million residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.
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