Key Points
- Optimum Communications General Counsel Michael Olsen sold 20,000 shares on April 1 at an average price of $1.29 under a pre-arranged Rule 10b5-1 plan, trimming his stake to 1,219,781 shares (a 1.61% decrease); he also sold 250,000 shares on Feb. 17 at $1.60.
- OPTU is trading around $1.37 with a market cap of about $642.2M; the company reported a quarterly EPS of ($0.15) that missed estimates and analysts forecast FY EPS of approximately -0.24.
- Analyst sentiment is weak — the consensus rating is "Reduce" with an average target price of $2.19 and several recent downgrades from firms including Benchmark, Citigroup and Raymond James.
Optimum Communications, Inc. (NYSE:OPTU - Get Free Report) General Counsel Michael Olsen sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $1.29, for a total transaction of $25,800.00. Following the sale, the general counsel directly owned 1,219,781 shares of the company's stock, valued at $1,573,517.49. This trade represents a 1.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Olsen also recently made the following trade(s):
- On Monday, March 2nd, Michael Olsen sold 20,000 shares of Optimum Communications stock. The shares were sold at an average price of $1.40, for a total value of $28,000.00.
- 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 Down 0.4%
Optimum Communications stock opened at $1.37 on Friday. The firm has a market cap of $642.18 million, a price-to-earnings ratio of -0.34 and a beta of 1.51. The stock has a fifty day simple moving average of $1.49 and a two-hundred day simple moving average of $1.85. Optimum Communications, Inc. has a 12 month low of $1.20 and a 12 month high of $2.98.
Optimum Communications (NYSE:OPTU - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.14). The firm's revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.12) earnings per share. On average, equities research analysts forecast that Optimum Communications, Inc. will post -0.24 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of OPTU. Hsbc Holdings PLC purchased a new stake in shares of Optimum Communications during the 4th quarter valued at about $213,000. PEAK6 LLC purchased a new position in shares of Optimum Communications in the fourth quarter worth approximately $400,000. Eos Management L.P. purchased a new position in shares of Optimum Communications in the fourth quarter worth approximately $97,000. Corient Private Wealth LLC bought a new stake in Optimum Communications during the fourth quarter valued at approximately $348,000. Finally, Sentinel Dome Partners LLC bought a new stake in Optimum Communications during the fourth quarter valued at approximately $330,000. 54.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
OPTU has been the topic of several research analyst reports. Evercore set a $2.00 target price on shares of Optimum Communications in a research note on Friday, February 13th. Benchmark lowered shares of Optimum Communications from a "buy" rating to a "hold" rating in a research note on Tuesday, February 10th. Zacks Research cut shares of Optimum Communications from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 18th. Citigroup downgraded shares of Optimum Communications from a "buy" rating to a "neutral" rating in a research report on Sunday, February 15th. Finally, Raymond James Financial cut shares of Optimum Communications from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 11th. Four equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Optimum Communications has a consensus rating of "Reduce" and an average target price of $2.19.
Get Our Latest Stock 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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